Judge approves AT&T-Time Warner deal

MGN Image

AT&T has won a court ruling that will allow it to buy Time Warner Inc., Bloomberg and other media outlets reported today.

"The impact from this decision will have wide reaching ramifications across the telecommunications, media, and tech industry for decades to come", said GBH Insights analyst Dan Ives.

Regulators will still likely scrutinize similar deals, and there is no guarantee that the district court's approval of AT&T's merger with Time Warner means that other major media acquisitions would be approved, several antitrust attorneys told Reuters.

CNN is owned by Time Warner (TWX).

Trump Makes Last-Minute Endorsement Against Mark Sanford
It is a different story in western counties, where voters must choose between a Republican and Democratic ballot. Polling is also close in matchups for two other top statewide offices: attorney general and secretary of state.

If Judge Leon approves the deal, it is expected to close before the end of the month. The company will now work to complete the merger by June 20th. It's about how and where we consume content and it's about the data that companies like Netflix, Facebook and Amazon collect on viewing habits and consumer behavior that gives them a leg up over companies like Time Warner and AT&T.

Prior to the news on the decision in the case, AT&T stock closed up 0.5% (to $34.50 per share) and Time Warner closed up 0.05% in regular trading (to $96.22 per share) which concluded at 4 p.m. ET.

Waiting in the wings are potential big-billions deals involving 21st Century Fox and Disney, Verizon and CBS, T-Mobile and Sprint. Trump had pledged to block the deal when he was campaigning for president.

The ruling is a stinging defeat for the Justice Department. And in order to stay competitive, AT&T's CEO Randall Stephenson said during the trial that it needed a big deal to survive. Comcast is also expected to make a bid for 21 Century Fox's television division. President Donald Trump, while still a candidate, said he would block the deal "because it's too much concentration of power in the hands of too few". The government's star witness was Carl Shapiro, an economist at the University of California, who used an economic model to predict that consumer cable bills could rise by $500 million annually in aggregate by 2021. The companies rejected both options. He rejected the government's argument that it would hurt competition in pay TV and cost consumers hundreds of millions of dollars more to stream TV and movies.

Deontay Wilder accepts terms to fight Anthony Joshua in the United Kingdom
On Monday night he posted: 'The $50M offer for Joshua to fight me next in the U.S. is still available to him if he wants it. Wilder's co-manager Shelly Finkel told ESPN they had agreed to the latest terms offered by Joshua's promoter Eddie Hearn.

"We think the evidence throughout the trial was quite clear and we're very pleased that the court saw it the same way", said Daniel Petrocelli, AT&T's lawyer. A loss for AT&T and Time Warner could have signaled a new era of government scrutiny over so-called "vertical mergers" and could have halted attempts by companies like Disney, Fox and Comcast to announce their own megadeals.

In a recent court filing, Redstone said her long-term plan was to create a combined company, which would unite media assets including CBS" broadcast networks, Showtime, MTV, Comedy Central and Nickelodeon, and then sell it. Halford, from OCC added, "All I know is that this will be a blockbuster summer for media mergers!'

With control over a significant portion of the content, AT&T is now in a good place to keep prices high among rivals and prevent streaming TV services from offering cut-price cable alternatives.

New disclosure shows Jared and Ivanka growing wealth as presidential advisers
A man walks out of the 666 Fifth Avenue office tower owned by the Kushner Cos.in New York City, on March 29, 2017. His line credit at IDB Bank increased from a max of $5 million to $25 million.

Related News:

  • Man holds two people hostage in Paris

    There were no immediate details on the age, appearance or nationality of the hostage taker. The area around the incident in the 10th arrondissement of Paris was ringed off by police.

    Armed man 'with a bomb' holds three inside a shop

    Police would not immediately confirm whether the person holding the hostages was armed or describe the nature of his demands. The man reportedly asked to speak to the Iranian embassy to deliver a message to the French government, Reuters reports .
    Domino's is helping fix  potholed roads so your pizza stays ideal

    Domino's is helping fix potholed roads so your pizza stays ideal

    Domino's Pizza says potholes are putting its pizzas at risk, so the company is helping smooth out roads for delivery drivers. Domino's Paving for Pizza initiative will fix potholes across the United States.
  • Pakistan crush Scotland by 48 runs in first T20I

    Pakistan crush Scotland by 48 runs in first T20I

    Scotland were unable to repeat their weekend heroics against England as Pakistan eased to a 48-run victory in Edinburgh . The No 1 ranked 50-over side were humbled in Edinburgh as Calum MacLeod hit a match-winning 140 not out.
    Verstappen answers critics by topping Montreal practice

    Verstappen answers critics by topping Montreal practice

    Sebastian Vettel will start the race from the front of the grid, followed by Mercedes' Valtteri Bottas and Verstappen. When you feel confident with the vehicle then you can do a good job. "Every session we made progress".
    Warriors Parade: Draymond Green Trolls Cavs With New T-Shirt

    Warriors Parade: Draymond Green Trolls Cavs With New T-Shirt

    Even if this is all just in good fun, it seems risky to stir the pot with a player like Durant. However, on Tuesday, during the parade, Myers' tune seemed to change. " Whatever he wants .
  • Kate Middleton takes George and Charlotte to watch William in polo match

    Kate Middleton takes George and Charlotte to watch William in polo match

    But there's one element of the pictures that people aren't all that over-enthusiastic about: Prince George playing with a toy gun. My American side here, biased maybe because of everyday #gunviolence in United States of America , but my British side agrees.

    Real Madrid Have Announced Their New Manager

    " Real Madrid C.F. announce that Julen Lopetegui will be the coach of the first team during the next three seasons". Lopetegui previously managed Porto for two years, before taking over at the Spanish national team in July 2016.

    Real Madrid Announce Zinedine Zidane's Replacement

    A club statement said: " Real Madrid CF announces that Julen Lopetegui will coach the first team for the next three seasons". He coached the U19s to Euro 2012 glory, and after managing the U20s, he led the U21 side to victory at Euro 2013.
  • Fire destroys Iraq’s biggest ballot warehouse before recount

    Fire destroys Iraq’s biggest ballot warehouse before recount

    A fire has been brought under control at Iraq's biggest ballot paper storage depot days after an election recount was ordered . The Independent High Elections Commission had used electronic vote-counting devices to tally the results.
    New leak suggests that ‘Fortnite’ will launch on Nintendo Switch tomorrow

    New leak suggests that ‘Fortnite’ will launch on Nintendo Switch tomorrow

    A new entry in the popular Mario Party series, which blends video game and board game together, will be released on 5 October. A couple from the United Kingdom sent their 9-year-old daughter to rehab after she became addicted to " Fortnite ".
    Maria Bueno, Brazilian Tennis Star Who Reigned Over 1960s, Dies at 78

    Maria Bueno, Brazilian Tennis Star Who Reigned Over 1960s, Dies at 78

    Maria Esther Bueno was born on October 11, 1939, in São Paulo, and grew up across the street from a tennis club. Injuries and illness shortened her career, including spending eight months in bed in 1961 because of hepatitis.


Most liked

Navarro sorry for 'special place in hell'' for Trudeau remark
Trump has repeatedly threatened to withdraw the United States from NAFTA and negotiate bilateral deals with Canada and Mexico. Normally, the modus operandi for Trump administration officials precludes any recourse to apologies.

Signing Marouane Fellaini would offer Arsenal something different - Ray Parlour
Pires continued. "But I think he's a good player if he wants to join Arsenal , I think it would be good news ". Fellaini's departure seems imminent given that they have nearly acquired Fred from Shakhtar Donetsk.

Nadal has Schwartzman battle on his hands
And on the penultimate point of the semifinal, after being run ragged, the 2009 US Open victor could only offer up a smile. So nerves could come into play in the early going against Nadal, who will be bidding for his 17th major title overall.

Yes, Trump Talked About Human Rights With Kim Jong Un - Katie Pavlich
He was sentenced to 15 years of hard labor in March 2016 after a tear-filled confession on camera in a North Korean courtroom. Charles Armstrong: I think that lifting sanctions is probably the key priority right now, but I think that...

US Opens New De-Facto Embassy in Taiwan, Angering China
The United States opened AIT shortly after terminating formal ties with Taipei - a diplomatic workaround that has irked Beijing. Yet, as NPR's Rob Schmitz explains , Washington has been creeping steadily closer to Taiwan under the Trump administration.

'We have a deal,' say Greece and Macedonia over name dispute
The announcement came after telephone talks with Greek counterpart, Alexis Tsipras, on Tuesday. Zaev said that the deal will be put to a referendum in Macedonia in the autumn.

Ghost of Tsushima release date: Gameplay trailer revealed - E3 2018 Sony highlights
Set to be released exclusively on the PlayStation 4 on 7 September, Marvel's Spider-Man looks to be a pretty darn good game. Worse, as you saw at the end of the gameplay video, Spider-Man is no match on his own in the one vs. five situation.

Days after gator attacks and kills woman, city will install warning signs
The Fish and Wildlife Conservation Commission said that the park is city owned and signage is its responsibility. Jim Borrelli, a friend of Matsuki, said she and her husband have walked their dogs in the park previously.

Kitchen Towels Full of Germs
Kitchen towels can harbor pathogens that may cause food poisoning, findings of new study have revealed. Bacteria love moisture, and humid towels grow more of it.

Nadal admits he thought he would have retired by now
That's when Nadal took charge, holding for a 5-4 lead, then breaking to take the set as Thiem made four unforced errors in a row. Nadal has won 17 Grand Slam singles titles, three short of Roger Federer , the tennis yin to his yang, who has won a record 20.

E3 2018: Nintendo predictions, rumors and expectations
Same with the new Yoshi platformer announced past year , there won't be much more than a brief trailer to take in. The game updates its cosmetics very often, giving players a number of skins and emotes to choose from.

National Hurricane Center: Monitoring Gulf of Mexico for low chance development
Hurricane Bud has strengthened to a Category 4 storm and is making its way toward Southern California , forecasters said Tuesday. Rainfall of 3 to 6 inches, with isolated patches of 10 inches, was possible over much of that region into Tuesday afternoon.

Trump’s Trade Adviser Apologizes for ‘Inappropriate’ Trudeau Comments
Also on Monday, former Trump aide and a former Breitbart editor Sebastian Gorka criticized Trudeau, calling him "childish". Trump took time at his news conference to explain a photo that went viral from the G7 summit .

Canada's FM slams U S attacks on trade, diplomacy
Kudlow's and Navarro's comments come on the heels of a tense G7 summit that left relations with US allies even more fractured than before.

Kim Jong Un commits to ‘complete denuclearization’ after meeting with Trump
However, relations with North Korea, which had seemed to go well, broke down under former President George W. As North Korea was conducting multiple missile tests a year ago and threatening to attack the U.S., Mr.