A lot is riding on U.S. District Judge Richard Leon’s decision to either approve or deny AT&T’s $85.4 billion acquisition of Time Warner.  

The future of one of the country’s largest media and entertainment companies in Time Warner and that of the biggest telecom company by market cap in AT&T are on the line. But it’s more than just these two multibillion-dollar companies hanging in the balance — Judge Leon’s decision could also alter the course of Disney and Fox’s looming $52 billion deal.

CFRA analyst Tuna Amobi said this has the potential to be a landmark decision.