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Judge agrees with economist’s assessment of potential AT&T-Time Warner merger

An economist dismissed testimony from the star witness testifying against the AT&T-Time Warner merger as “very complicated” — and got a nod from the judge. Testimony by the University of Chicago’s Dennis Carlton drew agreement from US District Court Judge Richard Leon. “It’s like a Rube Goldberg contraption,” Leon said of the complex economic model on which the Department of Justice is basing much of its case. Leon had expressed skepticism on Wednesday after the DOJ’s chief expert, UC Berkeley professor Carl Shapiro, tried explaining the model’s particulars. “I look forward to rereading your testimony,” he told Shapiro. “I’m not sure I got it.” The DOJ’s argument hinges on AT&T’s ownership of DirecTV, ...