Judge Allows AT&T To Purchase Time Warner 06/13/2018

AT&T-Time Warner Decision Could Send Waves Across Markets

It will bring together AT&T's significant wireless, satellite television and internet business with Time Warner's media properties, which include HBO and CNN.

Judge Richard Leon rejected those arguments, approving the deal without conditions.

Judge Leon also said it would be "unjust" for the Justice Department to seek to put a hold on the deal pending an appeal.

The merger had also been heavily politicized due to President Donald Trump's feud with CNN, so we'll see if the Justice Department attempts to appeal. The judge backed AT&T's and Time Warner's view that the deal was justified by "tectonic changes" and a "veritable explosion" of innovation among vertically integrated competitors.

As reported by Deadline, investors are expecting Comcast's new bid for 21st Century Fox "any minute now".

A decision is expected Tuesday afternoon in the government's lawsuit to block AT&T's purchase of Time Warner.

The lawsuit against AT&T had cast a pall over that activity, as a sign that the Department of Justice, under new Trump appointees, was taking a more hard line stance to mega-deals.

Organizer of infamous failed Fyre Festival charged with duping customers again
He says the 26-year-old McFarland went on to sell fraudulent tickets totaling nearly $100,000 to various events. According to The Associated Press , Billy McFarland was arrested earlier today on more fraud charges.

Quartz: The Fate Of The World's Media Is Being Decided Right Now - "Whatever the outcomes, the rise in deals among top content owners and distributors paves the way for more Netflix rivals and streaming alternatives over the next few years". Time Warner sells its content to the entire pay TV market, however, and makes its money by charging subscription fees and running ads.

"We are disappointed with the Court's decision today", a spokesperson for the agency said in a statement.

AT&T's politically charged takeover of Time Warner was approved by a USA judge on Tuesday in a blow to the Trump administration which had fought hard to have the deal scrapped. "We will closely review the Court's opinion and consider next steps in light of our commitment to preserving competition for the benefit of American consumers".

Shares of AT&T fell about 1.3 percent in after-hours trade following the decision, while Time Warner rose more than 5 percent. AT&T CEO Randall Stephenson also said previous year, "You shouldn't expect that we would sell something larger [than CNN] to get the deal done". Trump weighed in again after the justice department filed its suit: "Personally, I've always felt that that was a deal that's not good for the country".

Leon, whose skepticism about the government's case was clear during the trial, didn't buy any aspect of the the government's theory that a combined company would give AT&T too much leverage in programming talks with competitors of Time Warner's Turner Broadcasting.

Disney CEO Bob Iger has previously addressed the reports of Comcast's plans to out-bid Disney, stating he was "confident" in the latter's offer and the studio would remain optimistic about its ability to close a deal that shareholders were said to view favorably.

"We want people engaged with their mobile devices all day watching movies and video", Stephenson said in April during the trial.

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