Judge approves AT&T-Time Warner merger

13 June, 2018, 10:26 | Author: Gerard Cortez
  • MGN Image

AT&T won approval from a United States court on Tuesday to buy Time Warner for $85 billion, without conditions, allowing AT&T to compete with Internet companies that dominate digital advertising and providing new sources of revenue.

Announcing an offer on Wednesday, rather than Tuesday afternoon, will allow Comcast's lawyers to look through the details of Judge Leon's decision, the people said.

Judge Leon's decision is sure to open the doors to more mergers involving media companies as content continues to drive the ISP and the wireless industries.

AT&T would use its leverage over the must-have shows, in particular HBO's Game of Thrones or National Basketball Association games on TNT, to charge Comcast or Verizon more than it would charge itself for distributing Time Warner channels, giving itself a competitive advantage, the government claimed. Without #NetNeutrality protections @ATT can now discriminate against sites & content competing with networks it will soon acquire like HBO & CNN.

Leon announced his decision after the stock market closed on Tuesday, and Comcast shares slumped 4 percent in after-market trading on fears that it would overpay for Fox.

Months before Trump nominated him to the Justice Department's leading antitrust position in 2017, Delrahim even had expressed an openness to the combination of AT&T and Time Warner, predicting in an interview on Canadian television that it might not trigger any regulatory concerns.

The ruling comes with other big mergers awaiting review.

Most senior military officials caught off guard by Trump "war games" announcement
But why were those military exercises taking place at all, and how did almost 29,000 USA troops end up in South Korea? It was shocking, he said , because these exercises are fundamental to our military relationship with South Korea.

Leon's ruling could shape the government's future competition policy.

The Justice Department is not likely to be put off by the loss, said Amy Ray of the law firm Cadwalader, Wickersham & Taft LLP, noting it had prevailed in stopping other mergers between rivals.

The ruling could also prompt a cascade of pay TV companies buying television and movie makers, with Comcast's bid for some Twenty-First Century Fox assets potentially the first out of the gate. It would also be the 12th largest deal in any sector, the data showed. Major cable, satellite and phone companies are bulking up with purchases of entertainment conglomerates to compete against rivals born on the internet, like Amazon and Google. Stephenson was relieved. So was outgoing Time Warner CEO Jeff Bewkes, who also learned the news from a phone call. "I believe this is going to lead to higher prices", said Gigi Sohn, a former top aide to the Federal Communications Commission under former President Barack Obama.

The six-week trial featured a parade of expert witnesses as attorneys for the opposing sides took Leon on a journey through the twisty dynamics of the media and entertainment landscape.

AT&T and Time Warner together are some of the largest buyers of advertising around the globe, spending billions of dollars to market their products. Post-merger, AT&T rivals like Charter Communications and Cox, which now pay Time Warner for its channels, would suddenly also become AT&T's customers.

The companies' main economist, Dennis Carlton from the University of Chicago, refuted Shapiro's model as overly complicated and rejected his conclusions. The government failed to prove that the merger would dampen competition and innovation and raise prices for pay TV, said Daniel Petrocelli, the companies' lead attorney in defending the merger.

AT&T said that controlling Time Warner's cable brands will help it craft new types of content to retain its customers as web-based rivals like Netflix Inc woo audiences away from traditional pay-TV subscriptions. The combination would push technology forward and give consumers more choices, AT&T has promised.


  • Montreal Grand Prix flag bungle - model cleared

    Montreal Grand Prix flag bungle - model cleared

    Daniel Ricciardo (Red Bull) +20.892s 5. "It was a mechanical failure, so the vehicle ran hot from the first lap". A year ago, Stroll picked up the first Formula One points of his career in his hometown.
    2018 primary election results tonight: Virginia, South Carolina, Maine, Nevada, North Dakota

    2018 primary election results tonight: Virginia, South Carolina, Maine, Nevada, North Dakota

    Sanford is one of several Republican candidates in 2018 who have faced criticism from the right for speaking out against Trump. Pelosi and Democrats have blasted President Donald Trump's "zero tolerance" policy for illegal immigrant border crossers.
    ‘Betrayal’ by Canadian prime minister ‘stabbed us in the back’

    ‘Betrayal’ by Canadian prime minister ‘stabbed us in the back’

    Trump made the comments in tweets from Air Force One as he headed to Singapore for his summit with North Korea's Kim Jong Un . Reacting to Trump's tweets , Trudeau's office said: "We are focused on everything we accomplished here at the summit ".
  • Epic Games Releases the Year's Biggest Battle Royale on Switch - Fortnite

    Epic Games Releases the Year's Biggest Battle Royale on Switch - Fortnite

    For those keeping score, Fortnite is now available for the PC, macOS, Xbox One , PlayStation 4 and iOS. Competitive games like Fortnite benefit greatly from players being able to talk to each other.

    Woman caught caging kids in pet kennels

    I only met her like once maybe twice. "It's a huge mistake, get some help yeah but put her in jail, it's hard to say", Blake said. Many have inquired about a viral video from Saturday that shows two children being transported in pet kennels in the.
    Bethesda has just teased Fallout 76 prior to E3 2018

    Bethesda has just teased Fallout 76 prior to E3 2018

    This vault is meant to be a "control vault" against which many experiments conducted in the other vaults can be measured. But developer Bethesda will reveal more details about the game during its E3 presentation in June.
  • How the Hill Reacted to the Trump-Kim Summit

    How the Hill Reacted to the Trump-Kim Summit

    The KCNA news agency says Mr Trump made the promise after pledging to end joint military exercises with South Korea . But I hope it goes way beyond that.
    State Trooper Pulls Over Cop Who Delivered Him 27 Years Ago

    State Trooper Pulls Over Cop Who Delivered Him 27 Years Ago

    The trooper's mother, Karen Patterson, was out shopping on October 5, 1991, when she went into labor. The trooper then stuck out his hand for a handshake and said, "My name is Michael Patterson, sir.
    NBA Finals Memes (feat. Lebron James) - All The Memes

    NBA Finals Memes (feat. Lebron James) - All The Memes

    In 43 minutes of action, Durant scored 43 points on 15-of-23 from the field in Game 3 to surge into the MVP conversation. Afterwards, he dismissed comparisons to his 2017 shot and focused on Golden State still needing a fourth victory.
  • Nadal looking for more to win 11th title

    Nadal looking for more to win 11th title

    Both men knew that full well. "As long as Rafa is healthy, it will be very hard to beat him here", del Potro said on Friday. The world number one goes in search of Roland Garros title number 11 against Dominic Thiem of Austria on Sunday.
    EU's Michel Barnier rejects Theresa May's backstop proposal for Northern Ireland

    EU's Michel Barnier rejects Theresa May's backstop proposal for Northern Ireland

    "The UK is clear that the future customs arrangement needs to deliver on the commitments made in relation to Northern Ireland". That third "backstop option" was legally codified in a protocol contained in the Draft Withdrawal Treaty in late February.
    Unhurried hurricanes: Study says tropical cyclones slowing

    Unhurried hurricanes: Study says tropical cyclones slowing

    Kossin estimates that hurricanes have already slowed down enough that they could in theory double local rainfall and flooding. However, scientists have struggled to isolate the impacts of climate change on the characteristics of extreme weather events.


Tearful Dennis Rodman: 'I Knew Things Were Going to Change'
White House, however, did not independetly verify the claim of the call. "I didn't know anything about North Korea ". When asked what he expected when he first visited North Korea, Rodman said he was surprised by how much he liked it.

"Fair trade now fool trade", Trump vents anger on North Atlantic Treaty Organisation allies, Trudeau
The acrimonious fallout from the G7 began after Mr Trump watched Mr Trudeau's end-of-summit press conference . Dianne Feinstein, California Democrat, said it's one thing for Mr.

Rafael Nadal could miss Wimbledon due to 'drastic' surface change
Just 50 of the limited edition RM27-03s worn by Rafael Nadal were produced by luxury Swiss watch brand Richard Mille. Rusedski says the shot showed to his opponent Thiem had given up that point, something he should never do.

Battlefield V Royale Mode Announced, to Launch After October 19
No gameplay footage was revealed but DICE said more news on Battlefield 5 Battle Royale will be revealed later this year. There will also be a new battle royale mode, but it wasn't given a video preview.

Canadian senate passes marijuana legalization legislation
When asked about the measure, Trump told reporters in Washington that "we're looking at it". The president said , "I support Sen".

Pres. Trump signals support for legislation easing USA ban on pot
Canada will be just the second country-and the first G7 nation-to legalize marijuana for adults at the national level. After legalising medical marijuana in 2001, the Senate passed the bill with 52 votes in support and 30 against.

ZTE to pay $1B penalty in deal with US Commerce Department
Oclaro got 18 per cent of its business from ZTE previous year , while 30 per cent of Acacia's total revenue was from ZTE. ZTE supplier Oclaro Inc OCLR.O rose nearly 1 per cent while Acacia Communications Inc ACIA.O was down 1.5 per cent.

Melania Trump Denies Talking Stormy Daniels Scandal With Rudy Giuliani
Trump ". "I think that shows there's a lot of trouble brewing between the first lady and the president", Avenatti said . The first lady has not publicly commented about any of the sexual misconduct allegations against her husband.

Lose their minds as Washington Capitals win Stanley Cup
However, they weren't a Cinderella team that rode good fortune to a Stanley Cup - they outplayed their opponents in every series. For his part, Trotz said, "I said to Brian there's no reason that I don't want to be there [in Washington]".

Mueller's latest indictment is a mixed bag for Trump
Manafort continues to fight charges of laundering millions of dollars and was recently accused of trying to fix witness testimony. Besides the president or his family, there is perhaps no bigger fish in the Russian Federation investigation than Manafort.