Judge allows AT&T to acquire Time Warner, rejecting Justice Department argument that merger would ha

[mahatmakanejeeves]

Source: The Wall Street Journal.

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@WSJ
56s57 seconds ago

Judge allows AT&T to acquire Time Warner, rejecting Justice Department argument that merger would harm competition



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I started out with this, but the decision came down as I was posting.

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Fate of massive AT&T-Time Warner merger in U.S. judge's hands

http://www.chicagotribune.com/business/ct-biz-att-time-warner-merger-20180612-story.html

Marcy Gordon
Associated Press

June 12, 2018, 8:34 AM Washington

The fate of the AT&T-Time Warner merger, a massive media deal opposed by the government that could shape how much consumers pay for streaming TV and movies, rests in the hands of a federal judge.

U.S. District Judge Richard Leon is expected to announce in court Tuesday his decision in the biggest antitrust trial in years. The Trump Justice Department sued to block the $85 billion merger, arguing that it would hurt competition in pay TV and cost consumers hundreds of millions of dollars more to stream TV and movies.

If Leon approves the deal, the phone and pay-TV giant would 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.

Another possible outcome would be for the judge to approve the merger -- but on condition that AT&T not acquire certain Time Warner assets, such as Turner Broadcasting's CNN, or sell off its valuable DirecTV, or accept curbs on how it deploys Time Warner programming.

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There were a couple of reporters camped out in front of the Prettyman Courthouse this afternoon at 1:30 p.m. They were missing the Capitals's parade.

UPDATE:

The Wall Street Journal
‏
Verified account

@WSJ
56s57 seconds ago

Judge allows AT&T to acquire Time Warner, rejecting Justice Department argument that merger would harm competition

[BumRushDaShow]

1. Just got approved by the judge - WaPo breaking

AT&T-Time Warner merger approved, setting the stage for more consolidation across corporate America

by Brian Fung June 12 at 4:41 PM

Breaking news: A federal judge has approved AT&T's $85 billion Time Warner merger, handing the telecom giant a massive victory that could clip the ambitions of regulators seeking to block mergers.

The case — one of the most closely watched antitrust trials in decades — is viewed as a bellwether for other deals waiting in the wings. From Comcast’s bid for 21st Century Fox to CVS’s acquisition of Aetna, massive corporations increasingly have sought to expand their reach by buying up companies in different lines of business. The judge’s decision, which is allowing AT&T to buy Time Warner without conditions, shows the federal government may struggle to rein in such mergers.

https://www.washingtonpost.com/news/the-switch/wp/2018/06/12/att-time-warner-decision/?utm_term=.7c8e323bc567

[mahatmakanejeeves]

2. updating now

tnx

[sakabatou]

3. Ugh...

[bettyellen]

4. Didn't they bribe- aka lobby- Cohen to make this happen? Wonder where else they spent on lobbying?

[Fullduplexxx]

11. Yep they gave cohen a fortune and att got an sit down idjit pie

[mobeau69]

5. Fuck Trump.

[rockfordfile]

6. Not good for America. The some of the people at AT&T are un-American republicans.

Founding member Jack Warner was a democrat.

[mahatmakanejeeves]

8. As of 2016, AT&T had over 268,000 employees.

https://en.wikipedia.org/wiki/AT%26T#Historical_financial_performance

[mahatmakanejeeves]

7. Judge Rules AT&T Can Acquire Time Warner

Judge Rules AT&T Can Acquire Time Warner

One of the most significant antitrust rulings of recent decades

By Brent Kendall and Drew FitzGerald

https://twitter.com/brkend
[e-mail]

https://twitter.com/drewfitzgerald
[e-mail]

Updated June 12, 2018 4:47 p.m. ET

WASHINGTON—A federal judge ruled Tuesday that AT&T Inc. T 0.50% can proceed with its planned acquisition of Time Warner Inc., TWX 0.05% rejecting the Justice Department’s allegations that the deal would suppress competition in the pay-TV industry.

U.S. District Judge Richard Leon announced his decision in a packed courtroom, ruling that antitrust enforcers at the Justice Department had not proven their case against the merger.

The decision, in one of the biggest antitrust cases in decades, is a milestone victory for AT&T as it looks to reposition itself in a rapidly evolving media landscape. Its deal for Time Warner, valued at roughly $80 billion, has been pending since October 2016.

The acquisition means AT&T will be the nation’s top pay-TV distributor, through its ownership of DirecTV, as well as the owner of some of the country’s most sought-after channels: Time Warner’s Turner networks—including CNN, TBS and TNT—as well as HBO, the most popular U.S. premium network. ... The decision conversely hands the Justice Department’s antitrust division one of its most stinging loses ever.

[Liberalagogo]

9. I guess that clears the way

for the upcoming Disney/Fox merger.

[Bengus81]

10. Just like the Oil companies combining...........

Pretty soon COX and someone will want to merge or be bought out. Soon enough only 2-3 providers of HSI will be available in the entire US.

Cable TV rates will remain stagnant of go up a bit,HSI will be through the roof in five years.

[YOHABLO]

12. We live in a country full of fucking fools. We're being monetarily gouged by tech companies.

Gotta have our ''devices'', don't care how much it costs ... we can't function without them. And they keep raising the price. And we say more, more, more. What fucking idiots we are.