Mike Snider and Edward C. Baig USA TODAY Published 10:31 p.m. UTC Jul 13, 2018 Could the U.S. government upset AT&T's plans to give viewers Internet streaming bundles that leveraged its acquisition of Time Warner? Not a chance, the telecom giant's CEO insisted Friday. The morning after the Justice Department said it would appeal an anti-trust decision that led to AT&T's acquisition last month of Time Warner for $85 billion, AT&T CEO Randall Stephenson insisted the legal maneuver would not jeopardize any of the latest video offerings AT&T has pitched to consumers. "We're off and running," Stephenson told CNBC from Sun Valley, Idaho, where he is attending the annual Allen & Co. conference with other tech and media moguls, many of whom will have a rooting interest in how the legal proceedings play out. After the merger was completed, AT&T launched WatchTV, a broadband-delivered video … [Read more...] about The AT&T-Time Warner deal: Could Justice Dept. derail latest moves for WatchTV and prices?
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Wireless and broadband colossus AT&T on Thursday announced the close of its $85 billion merger with media-entertainment conglomerate Time Warner. The news came just two days after a US federal judge approved the deal, delivering a stinging rebuke to President Donald Trump's administration in its first major antitrust court case. "We're going to bring a fresh approach to how the media and entertainment industry works for consumers, content creators, distributors and advertisers," AT&T chief executive Randall Stephenson said in a statement stating the acquisition was completed. Stephenson noted that the merger comes as the way video is created, distributed and consumed is rapidly changing in an age of streaming digital content to a broad spectrum of internet-linked devices. "The content and creative talent at Warner Bros., HBO and Turner are first-rate," Stephenson said. "Combine all that with AT&T's strengths in direct-to-consumer distribution, and we offer customers a … [Read more...] about AT&T closes mega-merger with Time Warner
AT&T's $85 billion purchase of Time Warner won approval Tuesday from U.S. District Court Judge Richard Leon. The corporate combination promises to unleash even more megamergers in the fast-changing digital media space. The Trump administration had opposed the merger, which promises to join one of the country's biggest telecom providers with a media powerhouse that owns the Warner Bros. movie studio and DC Comics as well as the cable-TV networks CNN, HBO, TBS and TNT. The judge's 200-page opinion permits the merger to go forward with no conditions. The transaction will close on or before June 20, AT&T's lead lawyer, Daniel Petrocelli, told reporters after the ruling. Decision expected to spur more mergers Beyond the impact on the two companies, the merger is expected to spur frantic dealmaking in the rapidly consolidating media sector. "There are a number of deals in the pipeline that will now proceed with renewed vigor," said Fiona Schaeffer, an antitrust … [Read more...] about Judge approves AT&T-Time Warner merger without conditions
AT&T will soon have control of CNN and HBO, under a landmark deal to buy out Time Warner that was approved by a federal judge against the objections of the Trump administration. The merger was announced in late 2016, but has been challenged in by the Department of Justice last November. On Tuesday, US District Court Judge Richard Leon ruled against the government, allowing the deal worth an estimated $85 billion to go ahead. AT&T argued the acquisition would enable the company to reinvent itself in the age of streaming media, delivering television content to cell phones and other mobile devices. With the data it gathers from the devices, including computers and smart TVs, AT&T also plans to build a targeted advertising empire, according to the Washington Post. This is precisely the kind of nightmare scenario advocates of Net Neutrality pointed to in alarm, with internet providers being in position to prioritize their own content and throttle that of rival companies. Net … [Read more...] about Court approves $85bn AT&T purchase of Time Warner
The fate of AT&T's $85 billion bid to acquire Time Warner is set to be revealed Tuesday afternoon, when a federal judge announces his decision in a case that pits Big Media against the Justice Department. The case is unusual because of the size of the parties involved—and because it's the first time in over 40 years that the government has sued to block a merger of this type. (The last time it did so was in 1977, according to The Hill.) Here's what you need to know. The judge deciding this case previously approved Comcast-NBCUniversal. Judge Richard Leon, who has been on the bench since 2002, made history when he permitted Comcast to acquire NBCU, albeit with conditions. Among those conditions, Comcast agreed to not to gouge competitors who wanted to carry NBC content and that it would not create a service entirely made up of Comcast or NBC content. Those conditions expired earlier this year. The DOJ has pressured Time Warner to sell Turner Broadcasting, which … [Read more...] about AT&T-Time Warner merger: What to watch for on decision day