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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Ashley Wong USA TODAY Published 6:09 p.m. UTC Jun 13, 2018 Your move, Comcast. On the heels of a federal judge's decision that AT&T's $85 billion acquisition of Time Warner should not be stopped for competitive reasons, Comcast is expected to make its bid for the 21st Century Fox film and TV studio assets Walt Disney Co. has already agreed to buy. The cable and Internet provider, which owns NBC Universal, said last month it planned an all-cash offer for the Fox studios and networks, but hadn't named the price. Comcast could start at $60 billion, topping Disney's $52 billion offer, said CNBC. The Philadelphia-based Comcast was expected to wait for the judge's ruling in the Justice Department's suit against AT&T-Time Warner before making a formal bid. After the AT&T-Time Warner decision was announced late Tuesday, Fox (FOX) shares rose 1% and Comcast (CMCSA) shares slipped 2.6%. Disney (DIS) stock fell 1%. Despite their grip on the … [Read more...] about After AT&T-Time Warner gets a green light, Comcast is expected to rival Disney for Fox studios
AT&T Inc. was cleared by a judge to take over Time Warner Inc. in an $85 billion deal that will fuel the mobile-phone giant’s evolution into a media powerhouse and could spark a wave of new mergers.U.S. District Judge Richard Leon on Tuesday rejected the Justice Department’s request for an order blocking the Time Warner acquisition, saying the government failed to make its case that the combination would lead to higher prices for pay-TV subscribers. The judge put no conditions on the deal.Time Warner gained as much as 5.8 percent in after-hours trading, while AT&T fell as much as 3.9 percent.After nearly two years, AT&T is on the cusp of completing its acquisition of Time Warner, a deal it struck in a bid to become an entertainment giant that can feed Time Warner programming like HBO and CNN to its 119 million mobile, internet and video customers, and go head-to-head with Netflix Inc. and Amazon.com Inc."We think the evidence throughout the trial was quite clear … [Read more...] about AT&T Cleared to Buy Time Warner in Blow to Trump Administration
Edward C. Baig USA TODAY Published 9:29 p.m. UTC Jun 12, 2018 A federal judge ruled in favor of AT&T’s $85 billion acquisition of Time Warner on Tuesday in a decision that is likely to open the floodgates for future mega-mergers among the nation's entertainment companies. U.S. District Judge Richard Leon did not impose any conditions that would have AT&T scuttle the deal. Tuesday’s ruling is the latest chapter in a 20-month saga that began in Oct. 2016 when the largest U.S. telecommunications company first reached an agreement to buy Time Warner in a grab for TV and film content that would diversify its mammoth but mature Internet access business. Time Warner is a hangout for DC Comics' superheroes Batman, Superman and Wonder Woman, as well as CNN and HBO, the premium network where Game of Thrones resides. AT&T owns pay-TV provider DirecTV alongside its extensive landline, wireless and Internet services. It … [Read more...] about AT&T can proceed with $85 billion bid for Time Warner, judge rules, paving way for landmark deal
Mike Snider USA TODAY Published 8:55 p.m. UTC Jun 12, 2018 A media merger of super hero proportions is about to be settled. A federal judge is expected to decide Tuesday whether AT&T should go ahead with its planned $85 billion acquisition of Time Warner, home to DC Comics' heroes Batman, Superman and Wonder Woman, as well as CNN and HBO, the premium network where Game of Thrones resides. The deal will have far-reaching repercussions for consumers, bringing together the nation's largest telecommunications company and owner of DirecTV with Time Warner's entertainment library. An AT&T victory is likely to bolster the variety and number of streaming services competing for Americans' wallets and time as they ditch traditional options such as cable. But according to the Trump administration, it could raise costs for consumers. Either outcome will send up the equivalent of a bat signal to other communications and entertainment companies, alerting them … [Read more...] about AT&T-Time Warner decision will set stage for Hollywood’s future