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).

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.

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.

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.

"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.

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 .

Related News:

  • Premier League winter break approved from 2019-20, FA confirms

    Premier League winter break approved from 2019-20, FA confirms

    All three divisions in the EFL will remain unchanged during the winter break, with a full fixture list for the 72 League teams. Essentially, one round of Premier League games is split in half and played over two weekends.

    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.
    Amazon Criticized Over Labor Conditions at Foxconn Factory

    Amazon Criticized Over Labor Conditions at Foxconn Factory

    It found workers putting in more overtime hours than permitted by Chinese labor law, which limits overtime to 36 hours per month. It said that regular audits were carried out "and if infractions are identified, we work to immediately rectify them".
  • Paris on lockdown as 'armed man takes hostages'

    Paris on lockdown as 'armed man takes hostages'

    Police officers stand on a street near the site of an ongoing hostage taking on June 12, 2018 in central Paris . There were no immediate details on the age, appearance or nationality of the hostage taker.
    Xi touts Putin ties as USA  tensions brings them closer

    Xi touts Putin ties as USA tensions brings them closer

    Trump said he had a list of 3,000 names for possible pardon consideration. President Trump doesn't want anything to do with that. Nearly immediately after US President Donald J.
    Days after gator attacks and kills woman, city will install warning signs

    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.
  • 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.
    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.

    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.
  • Trump Makes Last-Minute Endorsement Against Mark Sanford

    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.
    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 ".
    Trump’s Trade Adviser Apologizes for ‘Inappropriate’ Trudeau Comments

    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 .


Most liked

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.

How the Hill Reacted to the Trump-Kim Summit
In a post-summit interview with ABC News, the president said he was confident that the agreement meant full denuclearisation. The former Chicago Bulls star said he tried talking to former US President Barack Obama .

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.

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".

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.

Tesla laying off 9 percent of workforce
A sign is seen outside Tesla Motors' new showroom in Manhattan's Meatpacking District in New York City, U.S., December 14, 2017. But Musk has promised an acceleration of Model 3 manufacturing, which will allow the company to bring in a lot more revenue.

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 .

'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.

Antoine Griezmann teases a decision on his Atletico Madrid future
One journalist was so desperate to get a comment from Griezmann, he used Google translate to ask the forward about his future. Messi has watched his arch-rival Cristiano Ronaldo lift the European trophy three times in a row.

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.

Watch this officer rescue child running alongside freeway traffic
At one point, a large truck can be seen passing within a few feet of the child at a high rate of speed. Mannino then alerts dispatch that he has him and would begin searching for his parents.

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.

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.

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.