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Thread: Judge approves AT&T-Time Warner merger

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    Judge approves AT&T-Time Warner merger

    https://www.cbsnews.com/news/judge-r...r-live-stream/

    Attachment 158310


    U.S. District Court Judge Richard Leon has approved AT&T's proposed $85 billion purchase of Time Warner, a corporate combination that promises to unleash even more megamergers in the fast-changing media business.

    The judge's opinion permits the merger to go forward with no conditions, according to CNBC and Reuters. The Trump administration had opposed the merger, which promises to join one of the country's biggest telecom providers with a media giant.

    Beyond the impact on the companies, the merger is expected to spur frantic dealmaking in the rapidly consolidating media sector. Consumers, too, eagerly watched, with people lined up on Monday outside the Washington courtroom in hopes of getting a seat, Bloomberg reported.

    Leon previously approved Comcast's acquisition of NBCU in 2011. In that case, he added a list of conditions the new entity was required to follow. Among those, Comcast agreed not to gouge competitors who wanted to carry NBC content and not to create a service entirely made up of Comcast or NBC content.

    The Justice Department had pressured Time Warner to sell Turner Broadcasting, which includes the cable news operation CNN, or other segments of the business -- suggestions the companies resisted. They've now won that bet. Time Warner shares were up nearly 5 percent in after-hours trading.

    Other media stocks that saw big price moves after the judge's ruling was announced included Twenty-First Century Fox, whose shares were up nearly 5% on speculation it could be the subject of a bidding war between Disney, which already has a $50 billion deal for Fox on the table, and a media giant like Comcast, which in recent weeks has been hinting of its interest in Fox.

    Assistant Attorney General Makan Delrahim said in a statement the DOJ was "disappointed with the Court's decision today. We continue to believe that the pay-TV market will be less competitive and less innovative as a result of the proposed merger between AT&T and Time Warner. 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."

    This is a developing story.
    “The Internet wasn’t meant to be metered in bits and bytes, so it’s insane that wireless companies are still making you buy it this way. The rate plan is dead — it’s a fossil from a time when wireless was metered by every call or text.” John Legere 1/5/2017

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    Oh boy. Hope this doesnt effect the capex like it did when they were acquiring DirecTV.

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    $85 billion is a lot of money!!!!!!!!

    AT&T's business model (diversifying in media and pay TV) is in stark contrast with Verizon who just recently named a new CEO who is rumored to be extremely focused on its wireless business and 5G lead.

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    This sucks. This deal is going to be bad for consumers, just like NBCU-Comcast. However, they have some logic in saying that well, Comcast was allowed to do it so we should be too.

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    Rumor has it that Comcast will now go after Fox.

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    Quote Originally Posted by @TheRealDanny View Post
    Rumor has it that Comcast will now go after Fox.
    Unfortunately, yes, which is even more insane, as they will own more cable channels to try and force down people's throats through their extremely aggressive bundling practices.

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    Judge approves AT&T-Time Warner merger

    Quote Originally Posted by @TheRealDanny View Post
    $85 billion is a lot of money!!!!!!!!

    AT&T's business model (diversifying in media and pay TV) is in stark contrast with Verizon who just recently named a new CEO who is rumored to be extremely focused on its wireless business and 5G lead.
    Well it’s a great business model however media and pay TV is being watched / used on mobile devices and / or pads. AT&T still needs to continue focusing on wireless too.

    Also AT&T will have much much bigger assets than VZW.

    Sent from my iPhone using Tapatalk

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    Recently Verizon killed off it's PAY TV Go 90 ambitions while T-Mobile acquired Layer 3 TV. Again differing business models here.

    I believe AT&T agreed to no blackouts during contract negotiations for at least 7 years for them and others in the space.

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    Comcast Bids $65B For 21st Century Fox In Largest Cash Deal Of All Time

    Quote Originally Posted by GSMinCT View Post
    Unfortunately, yes, which is even more insane, as they will own more cable channels to try and force down people's throats through their extremely aggressive bundling practices.
    And just-like-that: https://www.forbes.com/sites/halahto.../#178fb13b5146

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    Quote Originally Posted by @TheRealDanny View Post
    Comcast needs to be put to pasture.

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    Quote Originally Posted by @TheRealDanny View Post
    Ugh. This integration is just going to encourage more anti-competitive practices.

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    Just read theres not going to be a stay either

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    That didn't take long:

    "AT&T completes acquisition of Time Warner"

    http://money.cnn.com/2018/06/14/medi...eal/index.html

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    Quote Originally Posted by catch22 View Post
    That didn't take long:

    "AT&T completes acquisition of Time Warner"

    http://money.cnn.com/2018/06/14/medi...eal/index.html
    They said they'd have it ready by the weekend. They weren't joking.

    So is Time Warner still gonna be "Time Warner," and just one of the many subsidiaries AT&T owns?

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    Quote Originally Posted by @TheRealDanny View Post
    They said they'd have it ready by the weekend. They weren't joking.

    So is Time Warner still gonna be "Time Warner," and just one of the many subsidiaries AT&T owns?
    The press release just says "A new name for this business will be announced later." I expect the TW name to disappear in short order.

    http://about.att.com/story/att_compl...arner_inc.html

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