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Trump administration appeals $US85 billion merger of Time Warner and AT&T
spɹɐʍoɔ snoɯʎuouɐ
☇☇Vocem sine nomine audivit!☇☇
User ID: 350320
07-13-2018 04:22 AM

Posts: 12,599



Post: #1
Trump administration appeals $US85 billion merger of Time Warner and AT&T
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The Trump administration says it will appeal against a court decision to allow the merger of media network Time Warner and telecommunications company AT&T.

This merger is one of the largest ever media deals and was completed barely a month ago on June 14, following a lengthy six-week trial.

If the US Department of Justice (DoJ) wins the appeal, the $US85.4 billion ($115.2 billion) deal will have to be unwound.

The government's notice of appeal, filed in US District Court in Washington, did not disclose on what grounds it intends to challenge the approval given by US District Judge Richard Leon.

Judge Richard Leon had sharply urged the DoJ not to seek a stay of his ruling, saying that it would be "manifestly unjust" to do so and not likely to succeed.

In his ruling, the judge said the government had failed to show competitive harm.

What is at stake is whether AT&T can control Time Warner's lucrative assets CNN, HBO, the Warner Bros movie studio, in-demand sports programming, Game of Thrones and other popular television shows.

more:
http://www.abc.net.au/news/2018-07-13/do...er/9989746

Scratchinghead

I wonder if this has to do with the bidding war for SKY

Quote:The Philadelphia-based Comcast increased its offer for Sky on Wednesday, valuing the satellite broadcaster at $34 billion, or 26 billion pounds. That topped a bid from 21st Century Fox, Rupert Murdoch’s media empire, that came earlier in the day. Fox’s offer valued Sky at about $32.5 billion. Sky’s independent board had already recommended Comcast’s new terms.

But Sky is just one element in a larger, complex corporate showdown. The latest move escalates a war between rival media companies being waged across two continents and involving two different transactions exceeding $100 billion in value in total.

Both the Walt Disney Company and Comcast have bid to buy most of Fox’s entertainment assets, including Sky and another growing international business, Star India, which would help increase their global reach. Now, Comcast is unlikely to continue pursuing Fox and will instead concentrate its efforts on acquiring Sky, the people familiar with the process said.

Disney has agreed to pay $71.3 billion for most of Fox, a deal that Fox has accepted and federal regulators have approved. Buying full control of Sky, which Disney’s chief executive, Robert A. Iger, has called “a real crown jewel,” is critical to that effort. Comcast is equally motivated to capture control of Sky, which has more than 23 million customers across five European countries.

The cable company’s previous offer for Sky was about $30 billion and had already received approval from the British government. Fox is likely to receive approval for its bid as soon as Thursday, but would still need to increase it to acquire Sky.

more:
https://www.nytimes.com/2018/07/11/busin...y-bid.html
(This post was last modified: 07-13-2018 06:45 AM by spɹɐʍoɔ snoɯʎuouɐ.) Quote this message in a reply
LoP Guest
lop guest
User ID: 426905
07-13-2018 04:58 AM

 



Post: #2
RE: Trump administration appeals $US85 billion merger of Time Warner and AT&T
Dammit. My ATT lost 1.5 points.
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spɹɐʍoɔ snoɯʎuouɐ
☇☇Vocem sine nomine audivit!☇☇
User ID: 350320
07-13-2018 05:49 AM

Posts: 12,599



Post: #3
RE: Trump administration appeals $US85 billion merger of Time Warner and AT&T
Quote:The DoJ could still appeal, but assuming it doesn't, here's what happens next.







AT&T

AT&T will move quickly to complete its $85 billion deal for Time Warner. AT&T has said it intends to close less than a week after a deal is approved, allowing for a short process by the appeals court to order a stay.

Time Warner

CEO Jeff Bewkes will transition out of his job, collecting millions on his way out as part of a change of control employment package. The Time Warner brand will go away, following last year's extinction of Time Warner Cable.

Comcast

Comcast plans to kick off a bidding war on Wednesday with Disney to buy some Twenty-First Century Fox assets, which include cable networks, 39 percent of British satellite TV provider Sky Plc and Indian media conglomerate Star, according to people familiar with the matter. While there's no guarantee a Comcast-Fox tie-up would pass regulatory approval, Comcast would feel good about its chances.

Comcast to formalize Fox bid on Wednesday if AT&T-Time Warner is approved

Fox

Rupert Murdoch will become a wealthier man. Comcast intends to bid about $60 billion in cash, topping Disney's $52 billion all-stock offer.

Disney

Disney will have to decide if it's willing to improve its offer for Fox. Disney could decide to both raise its offer and change the mix of assets from all stock to cash-and-stock.


CBS/Viacom

CBS and Viacom previously put pencils down on negotiating a merger that controlling shareholder National Amusements has been pushing for. Now, both companies could theoretically have some other options, such as selling to Verizon, Charter, or a combined Sprint/T-Mobile, down the road.

Verizon

Verizon now has a clear opening to buy a large content company to compete with AT&T. This could be CBS, Viacom (or a combined CBS-Viacom), Discovery or something else. But Verizon CEO Lowell McAdam told CNBC last month that buying a large pay-TV company is "not our strategy," and the naming of successor Hans Vestberg, currently Verizon's CTO, suggests the company is more concerned with rolling out 5G than copying AT&T.

Charter

Charter will also have a clear path forward to buying a content company if it wants to go down that road. Charter may also find negotiations with Time Warner a bit more challenging if the government argument turned out to be correct and AT&T threatens to hold back Time Warner programming if it doesn't get higher programming fees.

https://www.cnbc.com/2018/06/12/att-time...media.html

12 June 2018
(This post was last modified: 07-13-2018 06:45 AM by spɹɐʍoɔ snoɯʎuouɐ.) Quote this message in a reply
Strange Candy staff
Ghuleh
User ID: 449254
07-13-2018 05:55 AM

Posts: 8,982



Post: #4
RE: Trump administration appeals $US85 billion merger of Time Warner and AT&T
Corosive, if I catch you spamming that again, your account is getting a huge time out.

I really hope that was not also you continuing to spam that post with those different IPs....that's indicative of you having a spam bot and could cause you to be permanently banned.

Hey hey hey, Stay outta my shed, Okay?
[Image: x7qg5x4.gif]
It's called Ravish Me Red...
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spɹɐʍoɔ snoɯʎuouɐ
☇☇Vocem sine nomine audivit!☇☇
User ID: 350320
07-13-2018 06:50 AM

Posts: 12,599



Post: #5
RE: Trump administration appeals $US85 billion merger of Time Warner and AT&T
TY SC.. I think 3 pages of desperation flooding is somewhat of a record...
chuckle

...This tactic really highlights the agenda behind the never-ending repetitive fallacious obfuscation posts designed to inject maximum division into any discussion... pretty much on any subject now.
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××× ☠️ ×××
†rÏඋĸ ✿r †r㉫A†
User ID: 444029
07-13-2018 06:56 AM

Posts: 18,615



Post: #6
RE: Trump administration appeals $US85 billion merger of Time Warner and AT&T
spɹɐʍoɔ snoɯʎuouɐ  Wrote: (07-13-2018 06:50 AM)
TY SC.. I think 3 pages of desperation flooding is somewhat of a record...
chuckle

...This tactic really highlights the agenda behind the never-ending repetitive fallacious obfuscation posts designed to inject maximum division into any discussion... pretty much on any subject now.

chuckle naughty, naughty

[Image: dsML5P7.gif]
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VinnyBob
Registered User
User ID: 450191
07-13-2018 08:01 AM

Posts: 336



Post: #7
RE: Trump administration appeals $US85 billion merger of Time Warner and AT&T
Tissue
Tissue
Tissue
Tissue

Please save us Lord Obama.!

"Liberalism is a mental disorder"
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