AT&T can buy Time Warner as judge shuts down Department of Justice
AT&T can buy Time Warner as judge shuts down Department of Justice
AT&T Cleared by Judge to Buy Time Warner, Create Media Giant
13 June, 2018, 02:00
Shares of Twenty-First Century Fox rose more than 4 percent, while Disney's stock dropped slightly more than 1 percent. However, AT&T has argued that making such a deal would be necessary to compete against other tech companies.
Elsewhere in the health space, shares of Express Scripts, which is about to be acquired by Cigna, soared 4.9 percent, to $83.05. Other deals on the line include the proposed T-Mobile and Sprintmerger, CVS' purchase of Aetna and Cigna's acquisition of Express Scripts. Judge Richard Leon rejected arguments by Justice Department lawyers that the combined company would be too large and too powerful and that the $85 billion deal would harm competition and hurt consumers.
AT&T's politically charged takeover of Time Warner was approved by a U.S. judge on Tuesday in a blow to the Trump administration which had fought hard to have the deal scrapped. During the trial, AT&T made several efforts to introduce evidence about political interference into the case but was rebuffed by Judge Leon.
The judge made his remarks to a packed courtroom in an unusual session weeks after the trial ended. For instance, AT&T could charge other content providers (including Verizon, which owns HuffPost's parent company, Oath) artificially high prices to air the cable channels it acquired through Time Warner.
The companies have until June 21 to close the merger, per their previously set deadline. It could have an impact on future mergers and acquisitions between content providers and creators.
But some experts urged caution in thinking that the DOJ's top antitrust official Makan Delrahim would allow a Comcast-Fox deal to go through unopposed. AT&T's favorable ruling would seem to clear any regulatory hesitation.
Nadal resumes French QF; Halep-Muguruza, Stephens-Keys in SF Top seed Nadal has an impressive record at the Roland Garros, winning 85 of his 87 matches played in the annual tournament so far. He is the only man to beat the world number one on clay in the last two years - in Madrid this spring and in Rome last year.
The nuances of this case are important, as the implications of this decision reach far beyond the individual businesses of AT&T and Time Warner to the vast media landscape as a whole.
"AT&T/DirecTV would hinder its rivals by forcing them to pay hundreds of millions of dollars more per year for Time Warner's networks, and it would use its increased power to slow the industry's transition to new and exciting video distribution models that provide greater choice for consumers", the DOJ said in its complaint.
On Tuesday, Judge Leon ruled that the Trump administration could not block the deal. The decision means the telecom giant will now control highly-sought after programming - including Game of Thrones, the Harry Potter movie franchise, and CNN - as well as the infrastructure that delivers that content to tens of millions of living rooms televisions and smartphones.
President Donald Trump also once weighed in on the deal, commenting that an AT&T victory would put too much power "in the hands of too few" ― but many speculated that his aversion to the merger had more to do with his issues with CNN than anything else (Turner Broadcasting is CNN's parent company).
"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", AT&T General Counsel David McAtee said.
Brazilian tennis great Maria Bueno passed away after a battle with mouth cancer, according to a statement by the hospital. Bueno with colored skirt linings and underpants, in violation of a Wimbledon rule that players dress entirely in white.
The NHC said, with maximum sustained winds of 120 miles per hour, Bud is now moving northwest at about seven miles per hour. Southwestern Mexico should expect several inches of rainfall from Bud, with the possibility of ten inches in certain areas.
The United States opened AIT shortly after terminating formal ties with Taipei - a diplomatic workaround that has irked Beijing. Moy, the USA ambassador in all but name, said at the dedication ceremony.
We should hear more information about Fortnite's future during Nintendo's E3 livestream on Tuesday, June 12th, at 9:00 AM PT. How to get a taste of the pirate life before the game releases to the world, with the Skull and Bones beta, from Ubisoft .
The incumbent is Republican Barbara Comstock , who last won with 53 percent of the vote against political newcomer LuAnn Bennett. Congress, the victor of Tuesday's primary election only becomes their party's representative in the upcoming general election.
Culture Secretary Matt Hancock has warned that addictive online shooter games can have a damaging impact on children. Carol said her "backside was red-raw, she was so hooked to the game she wouldn't even go to the toilet".
The fight also seriously raises the likelihood that the current round of tariffs could escalate into a full-blown trade war . Also on Monday, former Trump aide and a former Breitbart editor Sebastian Gorka criticized Trudeau, calling him "childish".
The man reportedly asked to speak to the Iranian embassy to deliver a message to the French government, Reuters reports . A man claiming to be armed with a bomb and revolver has taken three people hostage in Paris , police have said.
They claim Atletico conducted a campaign to keep hold of Griezmann, including manager Diego Simeone, the players and staff. Ronaldo cast doubt over his future at Madrid after their third consecutive Champions League success last month.
England v Australia talking points ahead of ODI series
The left-hander denied it was a reality check, but admitted they deserved to lose. "I think it's going to be a good series". That is the bigger shop window rather than the personal side. "We didn't do enough to win".
Look Out! Kitchen Towels Can Cause Food Poisoning
USING your tea towel multiple times in between washes could leave your family at risk of food poisoning, new research has found. Their thorough research work reveals that the multiple use towel shows the presence of Escherichia coli .
Foxconn Investigates Amazon Echo Factory
Long work hours, poor training, and an illegal workforce makeup are among dozens of troubling allegations presented in the report. It added that regular audits were carried out "and if infractions are identified, we work to immediately rectify them".