Court approval to buy Time Warner for $85 billion

Court approval to buy Time Warner for $85 billion

Court approval to buy Time Warner for $85 billion

For this reason, the government was hoping that Leon would at least put conditions on the merger, like requiring the telecom to sell off some of Time Warner's most coveted properties. The Trump administration opposed the merger while the justice department has sued to block it.

The merger, which combines one of the largest communications network providers with a major player in the entertainment market, is poised to shake up the media world. For more, RT America's Manila Chan is joined by former Florida Democratic Party Chair Mitch Ceasar and GOP Strategist Ken Del Vecchio.

Speaking after the ruling, AT&T's chief lawyer, Daniel Petrocelli, sidestepped many questions about potential political interference. Comcast shares fell after the decision as investors anxious it would overpay for the Fox assets to beat out Disney, which has offered $52.5 billion in stock. For example, Comcast is reportedly eager to gobble up some of 21st Century Fox's assets. For consumers, that may mean higher prices for services they buy from AT&T and Time Warner now, all in the name of competition.

"Now, more than ever, we need reinvigorated regulatory oversight of the video marketplace - such as program access and program carriage rules - to ensure that smaller distributors and programmers, and consumers, aren't harmed by an increasingly uncompetitive market", the advocacy group Public Knowledge said in a statement.

"Judge OKs AT&T merger with Time Warner, rejecting government argument it would hurt pay-TV consumers, competition".

Disney CEO Bob Iger has previously addressed the reports of Comcast's plans to out-bid Disney, stating he was "confident" in the latter's offer and the studio would remain optimistic about its ability to close a deal that shareholders were said to view favorably.

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To see how this could happen, consider that, after the merger, AT&T would have the rights to all of HBO's output, CNN, live National Basketball Association and NCAA broadcasts, and many more desirable Time Warner properties.

The merger, if permitted by Judge Richard Leon, is widely considered to be a harbinger of future media mergers that could radically shift how Americans consume television and movies going forward. This news comes to us courtesy of The Associated Press.

Announced in October 2016, the deal was quickly denounced by Donald Trump, who as a candidate and later as president has been critical of Time Warner's CNN and its coverage.

AT&T countered in court papers that the merger would allow it to compete better with Netflix, Amazon, Google and other companies that offer online video.

AT&T's bond deal could come sooner rather than later, as the company will want to get ahead of a growing M&A bond pipeline that includes Comcast, Shoup said.

The Justice Department had repeatedly suggested the judge consider forcing AT&T to divest some of Time Warner's cable channels. Between that now-pending battle and the approved merger of AT&T with Time Warner, the media landscape is undergoing a dramatic shift. AT&T did not immediately respond to a request for comment.

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