Judge approves AT&T-Time Warner merger opposed by Trump

Courts To M&A Bankers “Everbody Gets Laid!”

AT&T on Tuesday won the right to buy Time Warner and its deep reservoir of programming for $85 billion.

The Justice Department, which may still appeal the decision, sued the companies in November, arguing that the tie-up could be used to suppress competition and raise prices for consumers. However, AT&T has argued that making such a deal would be necessary to compete against other tech companies.

The judge said that the Department of Justice did not sufficiently meet its burden of proving that the deal would allow AT&T to harm rival TV providers.

The proposed acquisition of Time Warner by AT&T was what's known as a "vertical merger", the integration of two companies in different areas of the economy.

In after-market trading following the ruling, shares of Time Warner rose almost 5 percent and AT&T shares fell 1.6 percent. CNBC reports that Comcast will immediately move forward with its all-cash offer for 21st Century Fox assets if the judge approves the deal. The combined company would have a library that includes HBO's hit Game of Thrones and channels like CNN, along with vast distribution reach through wireless and satellite television services across the country.

More seismic activity expected on Hawaii's Big Island
The massive lava flow from Fissure 8 was spotted entering the ocean beyond what was once Kapoho Bay by a satellite on June 7. The lava has spread across an area of 5,000 acres and most of the area is covered in around 10 to 20 feet of lava.

In a blow to the Justice Department, AT&T's planned acquisition of Time Warner Inc received a nod from a federal judge on Tuesday without any conditions, opening the door for companies such as Comcast Corp, and Verizon Communications Inc to pursue deals to buy creators of media content. A loss for AT&T and Time Warner could have signaled a new era of government scrutiny over so-called "vertical mergers" and could have halted attempts by companies like Disney, Fox and Comcast to announce their own megadeals.

The lawyer added that the merger would be completed no later than June 20 of this year.

Leon described part of the government's case as "gossamer thin", saying that during the trial the Justice Department's expert witness declined to back some of the government's own theories. He rejected the government's argument that it would hurt competition in pay TV and cost consumers hundreds of millions of dollars more to stream TV and movies.

With control over a significant portion of the content, AT&T is now in a good place to keep prices high among rivals and prevent streaming TV services from offering cut-price cable alternatives. And in order to stay competitive, AT&T's CEO Randall Stephenson said during the trial that it needed a big deal to survive. First floated in October 2016, the deal also brought fire from then-candidate Donald Trump, who promised to kill it "because it's too much concentration of power in the hands of too few".

"The judge's sweeping rejection of the government's case doesn't surprise us at all", AT&T attorney Daniel Petrocelli told reporters outside of the courthouse shortly after the decision was issued. AT&T wasn't on board, saying, "Divestitures here would destroy the very consumer value this merger is created to unlock".

Related News:

  • Robert De Niro Says 'F--k Trump' at 2018 Tony Awards

    Robert De Niro Says 'F--k Trump' at 2018 Tony Awards

    De Niro previously called Trump a "dog" and a "bulls*** artist" while threatening to physically assault him. De Niro's comments were unscripted and unexpected.
    Boyd Dies: Former

    Boyd Dies: Former "America’s Got Talent" Winner Was 42

    Boyd died from heart failure and had several medical issues, including heart failure, kidney failure, and issues with his liver. In addition to his music career, he ran for an empty seat in the Missouri House of Representatives in 2011.
    Missing Air Force officer with top-secret clearance found after 35 years

    Missing Air Force officer with top-secret clearance found after 35 years

    He could face up to five years of confinement, forfeiture of all pay and dishonorable discharge from the Air Force. Hughes Jr. masqueraded as "Barry O'Beirne" for over 35 years after he deserted his post with the U.S.
  • Bairstow Confident England Can Handle No.1 Tag Against Australia

    Bairstow Confident England Can Handle No.1 Tag Against Australia

    I still look up to the way he bowls though I may be ahead of him for this game, but you never know how it may pan out. He would have been mentally really hurt by that, his family would have been hurt, everyone was hurt.
    E3 2018: New Kingdom Hearts III Trailer Introduces Pirates of the Caribbean

    E3 2018: New Kingdom Hearts III Trailer Introduces Pirates of the Caribbean

    Final Fantasy XIV and Monster Hunter: World are joining up to make two groups of nerds incredibly happy. Just Cause 4 is confirmed as coming to PC and PS4 on December 4 with a new gameplay trailer above.
    Bourdain's ex-wife says daughter 'strong and brave' following father's death

    Bourdain's ex-wife says daughter 'strong and brave' following father's death

    Busia-Bourdain is a martial artist who, in 2016, wrote an op-ed for Cosmopolitanabout how a jujitsu class changed her life. If you are ever experiencing suicidal thoughts, call the National Suicide Prevention Lifeline at 1-800-273-8255.
  • Star Fox is coming to Ubisoft’s space game Starlink

    Star Fox is coming to Ubisoft’s space game Starlink

    Ubisoft's store states that the Starter Edition for Nintendo Switch will retail for $74.99, but is not up for pre-order yet. Starlink: Battle for Atlas will be available on October 16th for PlayStation 4, Xbox One, and Nintendo Switch.
    Stoke City sign Super Eagles midfielder, Etebo

    Stoke City sign Super Eagles midfielder, Etebo

    The Super Eagle joined Feirense from Warri Wolves in 2016 and made 45 league appearances with seven goals to his name. Rowett added: "We're really excited to have got the deal over the line for Etebo".

    5,000 jobs at risk as Poundworld slides towards administration

    The firm's main rivals include Poundland and Poundstretcher as well as internet retailers. A TPG spokesman said: 'This was a hard decision for every party involved.
  • Trade dispute has Canadian MPs standing together against US President Donald Trump

    Trade dispute has Canadian MPs standing together against US President Donald Trump

    President Trump meets with Canadian Prime Minister Justin Trudeau at the Group of Seven summit on June 8 in Canada . And as everyone had predicted, Trump made a complete ass of himself , and by extension, the entire United States.
    Robbie Williams to perform at World Cup opening ceremony

    Robbie Williams to perform at World Cup opening ceremony

    Neymar and Co. open their 2018 World Cup campaign versus Switzerland on Sunday 18th June, before facing Costa Rica then Serbia. Following the controversy, Williams told fans on Twitter that the song "is definitely not about Mr Putin".

    IHOP changes name to IHOb (for now)

    Whatabuger also had a great response saying: "As much as we love our pancakes, we'd never change our name to Whatapancake". But, of course, other restaurant chains had some thoughts to share on the whole " IHOb " announcement.


Most liked

Trump and Kim sign agreement after landmark summit
Trump first announced there would be "a signing" shortly after midday, during a stroll with Kim around the hotel grounds. Security around Kim's hotel remained tight, suggesting the North Korean leader may return after the summit.

Spider-Man PS4 Hands-On Impressions at E3 2018
Due to its fantastic gameplay and unbelievable mechanics, it seems the game will provide us with many thrills and excitement. An achingly lovely trailer was debuted on the Sony stage last night, showing off the new title set in feudal Japan.

Elon Musk's Boring Company puts first 1000 Flamethrowers in buyers' hands
The announcement of the flamethrower sales followed the company selling roughly 50,000 hats for $20 each, raising $1m in revenue. Some have criticised the sale of the Not-a-Flamethrower to the general public, viewing it as a major safety risk.

Canadian breeders revel in Justify’s Triple Crown
And Justify left no doubt about its right to history, Justify racing from the first post position and leading for the entire race. Justify has won the Belmont Stakes in NY to become the 13th horse to claim United States thoroughbred racing's Triple Crown.

Egypt and Ethiopia fend off water wars over Nile mega-dam
The Nile River flows through Ethiopia, Sudan and Egypt, but the largest share of the river runs through Egyptian territory. Ethiopia, which has roughly same population size, says the dam is essential for its economic development.

Choose your own swipe actions with the latest Gmail for Android
In a recent update, Google is giving users some new options for customizing in-app actions. Google is in the run of updating all its products with some useful features.

Hurricane forecasters watching another wave of storms stirring in the Caribbean
The NHC alert said: "At 9am MDT (2pm GMT) the eye of Hurricane Bud was located near latitude 16.7 North, longitude 106.8 West. Hurricane Bud's probable path off Mexico's Pacific coast is displayed in this graphic from the National Weather Service .

Yemen rebel fire kills three civilians in Saudi, coalition says
The U.N. considers Yemen to be the world's worst humanitarian crisis, with more than 22.2 million people in need of assistance. A Saudi-led coalition has been at war with Yemen's Shi'ite Houthi rebels since March 2015.

Wendy's Shades IHOP Over Name Change to IHOb in Savage Tweet
A&W, Whataburger , Chili's and Denny's piled on with facetious name-changes and gibes about the new IHOB's burgers . More Money: McDonald's: You buy more from touch-screen kiosks than a person.

Japan: Bullet train knife attack kills one
The incident took place on a bullet train travelling west in the south of Tokyo, which was carrying 880 passengers. According to the Kanagawa prefectural police and other sources, three passengers on the train were attacked.

Apple bans mining cryptocurrency on iPhones (AAPL)
These conditions extend to apps providing cryptocurrency futures trading, and other crypto-securities or quasi-securities trading. Apple has revealed its revised guidelines in a dedicated section for iOS and MacOS apps centered on the cryptocurrency space.

Economic adviser Larry Kudlow suffers heart attack
He really kind of stabbed us in the back, he did a great disservice to the whole G-7, he betrayed them". He is now in Walter Reed Medical Center", President Trump wrote on Twitter. "He was polarizing.

Larry Kudlow suffers heart attack, Trump says
Kudlow has always been a respected business and economics commentator, getting his own CNBC show in 2011. Trudeau reiterated at the G7 on Saturday that Canada would impose retaliatory tariffs in response to Mr.

BioWare’s Anthem Won’t Have PvP At Launch
While you can be in a group, players will be crafting their own stories as they go, so no two people will have the same journey. A trailer does it more justice (which we attached below for your viewing pleasure) but we got a look at Anthem's combat system.

Trump takes more swipes at Canada and Trudeau after tense G7 summit
Navarro said Trump "did the courtesy to Justin Trudeau to travel up to Quebec for that summit". Saying Trudeau is "dishonest & weak", he threatened "tariffs on automobiles flooding the U.S.