And Slashdot and Reddit and a thousand independent tech blogs will fill with upset explanations of why this is bad for the market while no formal challenge or brief to the FTC is ever mounted.
Genuine question: Obviously it can't be challenged on anti-trust grounds (unless the original AT&T settlement applies here somehow), and I don't know enough US law to know what else might apply. I know many countries have a regulator for mergers that can sometimes apply a "bad for competition" policy, but I thought in the US that would only apply if it forms an actual monopoly?