A U.S. federal judge on Tuesday cleared the mega merger between AT&T and Time Warner in an antitrust case with potential far-reaching implications.
The government argued during the trial that if AT&T were to own Time Warner, it could violate antitrust law by using its market power to get higher prices from TV distributors.
Leon's opinion may also increase the chances that other deals already reached, like CVS' bid for Aetna and T-Mobile's proposed merger with Sprint, will survive regulatory scrutiny. The ruling comes one day after the repeal of net neutrality, meaning that AT&T now has more freedom to prioritize the delivery of select content on its network.
As for a potential appeal from the Justice Department, Judge Leon is discouraging such a move and says the agency should "think" first. It could have an impact on future mergers and acquisitions between content providers and creators. Short-term effects are likely to be favorable - things like a new skinny streaming service, or perks like free HBO for AT&T wireless customers - but as Time Warner continues to negotiate rates and packages with cable companies and new streaming services, the effects will become more clear.
Prior to the news on the decision in the case, AT&T stock closed up 0.5% (to $34.50 per share) and Time Warner closed up 0.05% in regular trading (to $96.22 per share) which concluded at 4 p.m. ET. Disney has bid for 21st Century Fox's entertainment assets, a deal that appears to have been shaped to avoid a challenge by Delrahim's antitrust squad.
Tesla to layoff 9 percent of workforce
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Some thought Trump had pressed for the lawsuit because of his animus toward Time Warner's CNN.
Ahead of the court ruling, a top antitrust official at the Justice Department urged investors not to read too much into the decision to sue to stop AT&T from buying Time Warner.
Today's ruling comes as part of the antitrust lawsuit levied by the Justice Department a year ago. Judge Richard Leon rejected arguments by Justice Department lawyers that the combined company would be too large and too powerful and that the $85 billion deal would harm competition and hurt consumers. He said AT&T plans to close the deal on or before June 20. AT&T will now have a major foothold in the media industry.
Some critics of President Trump have questioned whether the case was brought as political payback against Time Warner's CNN for unfavorable coverage of President Trump, who often called the cable news channel "fake news". The companies' CEOs, AT&T's Randall Stephenson and Jeffrey Bewkes of Time Warner Inc., testified in support of the deal. President Donald Trump, while still a candidate, said he would block the deal "because it's too much concentration of power in the hands of too few".
"We are pleased that, after conducting a full and fair trial on the merits, the Court has categorically rejected the government's lawsuit to block our merger with Time Warner", said David McAtee, AT&T General Counsel. AT&T wasn't on board, saying, "Divestitures here would destroy the very consumer value this merger is created to unlock".
Former Arsenal winger, Robert Pires has urged the club to sign Manchester United star, Marouane Fellaini this summer. Adil is a player that Pires knows well and the Frenchman is confident that the youngster can thrive under Unai Emery.
It claims that the clothes, tea-towels, dish-wash sponges and the oven gloves should regularly be washed to maintain hygiene. Multiple factors contribute to an increase in bacteria found on towels, including family size and the type of food consumed.
World No. 1 in 1959, 1960, 1964 and 1966, Bueno was Brazil's best ever player, winning 19 Grand Slam titles. The 9 de Julho Hospital said she had been admitted for "oncological treatment" and asked for privacy.
The desolate world up above still houses the same dangers, making the gas mask a mandatory item once again. Metro Exodus is the sequel to Metro: Last Light taking place two years after the it's events.
The new name will be used both domestically and internationally, and Macedonia will amend its constitution as part of the deal. Greece and Macedonia are involved in a longtime dispute over the name of the Republic of Macedonia .
Banks and his ally, Wigmore, made repeated contact with Russian officials before the referendum to discuss business opportunities. But Banks told the paper: "I had two boozy lunches with the Russian ambassador and another cup of tea with him, bite me".
Mr Kim's itinerary was reported in detail, which is a rarity for the state's media, according to South Korea's Yonhap news agency. North Korea leader Kim Jong Un and US President Donald Trump walk with the documents they just signed during their meeting.
He entered the ring, dominated and walked away with a victory and a championship belt wrapped around his waist. Horn already has 2cm in height on Crawford and is expecting to be around 70kg by the time the bout begins.
I played two sets at the same level as Dominic Thiem. "He's a big favorite against everybody", he told reporters. Converting break points has become close to impossible against Nadal on the red clay of Paris . "Barely walking.
Mannino was presented with the Life Saving Award from the Naperville Police Department last Thursday for his actions. According to a Naperville police spokesman, the boy ran out of his mother's home when she wasn't looking.
Guillem Balague says Julen Lopetegui's appointment as Real Madrid manager came as a surprise, but insists fans will be happy. He'll now become the manager of a club for which he made one senior appearance and has worked as a B team coach in the past.
Primaries on tap for Tuesday
Before casting a ballot, Virginia voters in the primary election must declare whether they want a Republican or Democratic ballot. Arrington has sought to use Sanford's frequent criticism of Trump as a wedge with GOP primary voters.
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