Thursday, 18 October, 2018

Judge approves AT&T's merger with Time Warner | AT&T

Judge approves AT&T's merger with Time Warner | AT&T Judge approves AT&T's merger with Time Warner | AT&T
Lindsey Cook | 13 June, 2018, 03:29

Shares of AT&T were about flat in after-hours trade following the decision, while Time Warner rose more than 5 percent. But looking beyond today, the merger could have a strong effect on future deals.

Trump, however, repeatedly had blasted the merger, due in no small part to his opposition to CNN, which is owned by Time Warner.

The phone and pay-TV giant will now be allowed to absorb the owner of CNN, HBO, the Warner Bros. movie studio, "Game of Thrones", coveted sports programming and other "must-see" shows.

Murdoch rebuffed Comcast's advances previous year amid regulatory concerns, but the AT&T/Time Warner deal was so similar to a prospective Comcast/Fox arrangement that conventional wisdom has held that those concerns would evaporate if the AT&T deal went through.

Judge Richard Leon said the United States government failed to meet the burden of proof that the tie up between the largest U.S. pay TV operator and media entertainment giant Time Warner would harm competition.

Makan Delrahim, the Justice Department's antitrust chief, said prosecutors were "disappointed" with the decision but did not reveal whether they would seek a stay or appeal the ruling.

It is worth remembering that the Justice Department is reviewing the T-Mobile/Sprint combination, and the Justice Department did not approve AT&T's purchase of Time Warner. Federal judge Richard Leon appoved the $85 billion merger in court Wednesday, almost two years after the planned deal was announced.

AT&T has argued that a merger consolidating control over both sides of content operations would enable it to collect valuable customer data, which it could then use to sell high-priced targeted advertising.

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

Judge approves AT&T's merger with Time Warner | AT&T
Judge approves AT&T's merger with Time Warner | AT&T

Wall Street analysts are expecting the bidding war for 21st Century Fox to heat up following today's regulatory approval of AT&T's acquisition of Time Warner.

"We are pleased that, after conducting a full and fair trial on the merits, the Court has categorically rejected the government's lawsuit to block our merger with Time Warner", McAtee said in a statement.

Bloomberg via Getty Images AT&T CEO and Chairman Randall Stephenson exits federal court in April.

The mega-merger is a high-stakes bet by AT&T Inc. on the synergy between companies that produce news and entertainment and those that funnel it to consumers.

"We are grateful to the court for seeing it the way we did", Gindseberg said.

The ruling is a stinging defeat for the Justice Department.

Since announcing the merger, AT&T's stock has fallen 12% while Time Warner's has risen 10%. Therefore, AT&T would likely increase the rates that other content distributors must pay to air Time Warner content - forcing its rivals to either raise prices on their subscribers (which would inspire some consumers to switch to DirectTV), or else accept lower profit margins (which would impair their ability to compete with AT&T in the long term).

The decision comes despite criticism from Trump, a frequent detractor of Time Warner's CNN and its coverage.

The White House did not immediately respond to a request for comment.

More news: Apple Bans Cryptocurrency Mining on iPhone and iPad
More news: E3 2018: This. Is. Sparta! - Hands-On with Assassin's Creed Odyssey
More news: Halep romps, Stephens rolls into final

Recommended

Amazon introduces free Whole Foods delivery in Philadelphia Amazon introduces free Whole Foods delivery in Philadelphia To get the discounts, shoppers have to scan a code on an app, or use their phone number when checking out. Amazon also has a handy map , which shows you the states where the Prime member deals are available.

IHOP reveals the mystery of IHOb IHOP reveals the mystery of IHOb Legendary fried chicken purveyor Church's Chicken posted an Instagram photo that poked fun at the IHOP name change buzz. It remains to be seen whether the change will be permanent or merely a flash in the pan (cake) to promote hamburgers.

Trump Agreed to Cancel South Korea War Games Without Informing the Military Trump Agreed to Cancel South Korea War Games Without Informing the Military Ben Shapiro said it was "disquieting" to see President Donald Trump praise North Korean leader Kim Jong Un . North Korea also serves as a valuable buffer state between China and USA forces in South Korea .

Trump celebrates birthday during lunch with Singapore PM Lee Trump celebrates birthday during lunch with Singapore PM Lee Before boarding the Air Force One flight to Singapore , Trump said: "At a minimum, I do believe we will have met each other". The KCNA report was unusual in its clarity, mentioning the "historic first summit meeting and talks" between Kim and Trump.

Prince Harry and Meghan to visit Australia in first overseas tour Prince Harry and Meghan to visit Australia in first overseas tour Are you a fan of the royal family? Meghan Markle has joined the royal family on the Buckingham Palace balcony for the first time. In April 2014, Prince Harry's brother and sister-in-law, the Duke and Duchess of Cambridge, spent 18 days in the two countries.

Robert De Niro Gets Bleeped Saying 'F*** Trump' at 2018 Tony Awards Robert De Niro Gets Bleeped Saying 'F*** Trump' at 2018 Tony Awards Supreme Court for its recent ruling in the Masterpiece Cakeshop case in his acceptance speech for best leading actor in a play. Stachel won best featured actor at Radio City Music Hall in NY , was perhaps the ideal vehicle to deliver him to fame.

Chef recalls lunch with Bourdain days before death Chef recalls lunch with Bourdain days before death The waiter, Maxime Voinson , told The New York Times , "Maybe he went out and ate somewhere else, we said". 'He had everything. During their time in Hong Kong, Bourdain dined at and filmed a Parts Unknown segment at the Happy Paradise restaurant.

North Korea's dictator comes in from the cold North Korea's dictator comes in from the cold US President Donald Trump trusts his deal-making intuition to prepare for talks with North Korea's Kim Jong Un . Past nuclear deals have crumbled over North Korea's reluctance to open its doors to outsiders.

The Elder Scrolls VI Announcement Trailer Revealed The Elder Scrolls VI Announcement Trailer Revealed Players won't see a server list when they boot up the game, but their progression will be saved nonetheless. Also coming up on mobile from Bethesda: The Elder Scrolls: Legends and The Elder Scrolls Blades .

Robert Whittaker beats Yoel Romero by split decision in Chicago Robert Whittaker beats Yoel Romero by split decision in Chicago Romero feels that if he was given that extra hour then he could have made the championship weight and challenged for the title. Whittaker opened strong, immediately attacking Romero's lead leg with side kicks before establishing a solid jab.

Mitch McConnell cancels most of Senate's August break, blames it on Democrats Mitch McConnell cancels most of Senate's August break, blames it on Democrats Asked if those powers of persuasion were effective, Cornyn cracked a grin. "It's a difference of opinion", Corker said . He reluctantly signed the $1.3 trillion spending bill in March as a matter of national security.

American Soldier Killed, 4 Wounded in Somalia Firefight American Soldier Killed, 4 Wounded in Somalia Firefight A US Special Forces Operational Detachment Alpha (ODA) came under attack today in the Bar-Sanguni area near Kismayo in Somalia. Three of the four wounded US service members were evacuated to receive additional medical treatment, the military said.

U.S. says diplomats in China hit by mystery illness U.S. says diplomats in China hit by mystery illness That's where doctors have been treating and studying patients evacuated from the U.S. Embassy in Beijing or other consulates in China who requested it.

Amazon Echo Show is on Sale Ahead of Prime Day 2018 Amazon Echo Show is on Sale Ahead of Prime Day 2018 This enables users to do things like switching between TV boxes and consoles, searching for shows and controlling the volume. You can enjoy Prime Video, Netflix, Hulu, ESPN, Showtime, Starz, and more like you normally would in high resolution.

Rajinikanth's Kaala a no show in Karnataka as protesters stop screening Rajinikanth's Kaala a no show in Karnataka as protesters stop screening With a day to go before the film hits theatres, the film has already earned Rs. 230 crore from its theatrical and music rights. Directed by Pa Ranjith, " Kaala " will see Rajinikanth playing a gangster once again on screen.