He looks like George Costanza.
Posted on 06/12/2018 1:49:31 PM PDT by Red Badger
AT&T announced that it was buying Time Warner for $85.4 billion in October 2016. The Justice Department sued last year to block the merger, citing concerns that AT&T, owner of satellite television provider DirecTV, could charge rival distributors more for Time Warner content, resulting in higher prices for consumers. The outcome of the trial could have implications for future deals in the telecom and media industries, as well as vertical mergers, where companies combine with their suppliers.
A federal judge said Tuesday that AT&T's $85.4 billion purchase of Time Warner is legal, clearing the path for a deal that gives the pay-TV provider ownership of cable channels such as HBO and CNN as well as film studio Warner Bros.
U.S. District Court Judge Richard Leon did not impose conditions on the merger's approval.
Shares of Time Warner jumped nearly 5 percent in extended trading. Shares of AT&T dropped more than 2 percent.
The Justice Department sued last year to block the merger, citing concerns that AT&T, owner of satellite television provider DirecTV, could charge rival distributors more for Time Warner content, resulting in higher prices for consumers. But AT&T has countered that the logic doesn't hold up since the point of owning content is to get widespread distribution, which brings in affiliate fees and advertising revenue.
The decision comes after a six-week trial.
AT&T, also the No. 2 wireless carrier in the U.S., said it was buying Time Warner in October 2016 to diversify its revenues and also become a media powerhouse that could attract consumers by bundling entertainment with mobile service. CEO Randall Stephenson has said the deal would help AT&T compete against tech giants like Amazon and Netflix, which are investing more in content.
The outcome of the trial will likely have implications for future deals in the telecom and media industries, as well as vertical mergers, where a company buys its supplier. Comcast has been eyeing a similar merger to combine production and distribution in a competing bid for Foxand was preparing to announce an offer as soon as Wednesday if Leon ruled in favor of AT&T in the trial, people familiar with the matter told CNBC.
A Bush appoointee:
https://en.wikipedia.org/wiki/Richard_J._Leon
So, by this I suppose it would be O.K for Verizon to buy Comcast??
Not sure this is the “competitive” market place Adam Smith favored.
We don’t need no steenkin’ Anti-Trust Laws.
Me no likie.
Government should protect the free market and competition, not hasten its demise.
Can DOJ appeal this black robed tyrant’s ruling?
dfw, what is that from?! :) sff
“They never fail to give the Chamber of Commerce and the business community EXACTLY what they want.”
Because the Chamber and business community never fail to give our elected EXACTLY what they want. $$$$$$$.
If we didn’t elect people whose only goal was to make themselves wealthy by selling us out, it’d help...a lot.
Network.
One of the best movies of all-time.
My question at post 32, was because I have NO faith in DOJ for anything, Is it too far a stretch to think perhaps DOJ lost this on purpose, if it would result in a big payday for Obammy et al? Just asking
Josef Goebbels would have loved our consolidated media.
It used to be about telephones.
NOW it’s about information distribution.
Both were about POWER....................
Thanks for your randomly assembled words.
I’ll toss them in the toilet where they belong.
Yes, of course. The battle may be lost but the war is still going on................
I want ala cart TV..................
Judge Harold Greene is rolling over in his grave.
.
I agree.
(Pls forget about the notion that everyone is in on the game to pretend nothing is going on. The likely fact is that nothing is going on).
I agree, again. Occam's Razor applies.
Sad to say, at this point my gut reaction is that any loss for our “justice” department is a win. I don’t care who’s right or wrong anymore . . . the DOJ is so utterly corrupt that I can’t make myself want to see them win at anything.
He looks like George Costanza.
NOW it’s about information distribution.
It was always about information too. American Telephone and Telegrasph. I worked in the second "T" as a teletypwriter repairman for almost 20 years. During that time, the whole "Data" era came (and went) and "Digital" took over from the old AC sequential analogue signals. Now, instead of just information distribution, AT&T will be in the "information manufacturing" business.
LOL...just wait for the Verizon/AT&T merger.
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