World News

AT&T postpones target for $85bn Time Warner deal to April

AT&T postpones target for $85bn Time Warner deal to April

DETAILS: Technalysis Research President Bob O'Donnell and Bloomberg Intelligence's Jennifer Rie discuss the U.S. Justice Department's antitrust lawsuit to stop AT&T's proposed acquisition of Time Warner.

In their first court filing responding to a Justice Department antitrust lawsuit, AT&T and Time Warner fought back against claims that the companies' proposed merger would stifle competition and hurt consumers.

"AT&T intends to vigorously contest the DOJ's allegations and is confident that the Court will reject the DOJ's challenge to the merger", the company wrote in its SEC filing.

Adding to the controversy, the DOJ and AT&T have publicly clashed over whether or not regulators offered to approve the merger if AT&T divested Time Warner's CNN. Proceedings are due to start on 20 February and are expected to last 10 days.

A Justice Department spokesperson declined to comment.

More news: Eye on China, India and Singapore ink naval pact

"Based on that precedent - as well as the government's own guidelines to consider "tailored conduct remedies created to prevent conduct that might harm consumers while still allowing the efficiencies that may come from [a vertical] merger to be realized" - AT&T and Time Warner fully expected to resolve the government's review of this merger by agreement, rather than litigation", AT&T argued in its filing.

It said AT&T would have the "incentive and ability" to charge rivals "hundreds of millions of dollars more" for the right to distribute content from major Time Warner properties including HBO and CNN. Its lawyers called the case an "abrupt departure from precedent" in its response to the government's suit, which they also filed Tuesday. "I don't think it's a good deal for the country", he said.

Addressing concerns that AT&T would withhold its content from other video distributors, AT&T and Time Warner pledged to offer arbitration to competitors if they disagreed with distribution agreements, and promised to never "go dark" in the middle of such negotiations.

He also addressed whether he thought CNN was a factor in the DOJ decision. Since taking office, Trump has continued to attack the network and says he continues to oppose the deal.


  • Lashing out at news media, Trump brings up Joe Scarborough conspiracy theory

    Lashing out at news media, Trump brings up Joe Scarborough conspiracy theory

    George Scarborough , who is not involved in the media world, said that Trump's tweet put a "huge emotional drain" on his family. Trump retweeted these three videos from Jayda Fransen , the deputy leader of the fair-right nationalist Britain First.

    Keystone Financial Planning Inc. Acquires 5741 Shares of Pfizer Inc. (NYSE:PFE)

    After $-0.34 actual EPS reported by 3D Systems Corporation for the previous quarter, Wall Street now forecasts -88.24% EPS growth. Finally, UBS reissued a "buy" rating and set a $38.00 price target on shares of Pfizer in a research report on Monday, July 31st.
    Sunny, high near 56 — TODAY'S FORECAST

    Sunny, high near 56 — TODAY'S FORECAST

    A warm front approaches Tuesday , producing a chance for a wintry mix and rain showers late in the day. You can see live weather updates via the National Weather Service and other Twitter sources below.
  • Amazon says Alexa device sales broke records over cyber holiday weekend

    Amazon says Alexa device sales broke records over cyber holiday weekend

    TVs were the most discounted items on Black Friday and continued to see big price drops into Cyber Monday, according to Adobe. It seems likely that the company surpassed those records this year, though Amazon didn't provide a specific number this time.
    Tesla Inc (NASDAQ:TSLA) has analysts on the Bullish side this week

    Tesla Inc (NASDAQ:TSLA) has analysts on the Bullish side this week

    Light Street Capital Management Llc decreased Tesla Inc ( TSLA ) stake by 35.61% reported in 2017Q2 SEC filing. The stock of Tesla Inc (NASDAQ:TSLA) earned "Underweight" rating by Barclays Capital on Tuesday, February 9.
    Tiffany beats expectations on strong Asian demand

    Tiffany beats expectations on strong Asian demand

    The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website . Victory Capital Management Inc. raised its holdings in shares of Tiffany & Co.by 22.4% in the 3rd quarter.
  • Lincoln Brings New Nautilus SUV to the Surface

    Lincoln Brings New Nautilus SUV to the Surface

    A concealed wireless charging pad allows compatible smartphones to stay connected, and puts an end to the hassle of tangled cords. Developed with input from orthopedic surgeons, this feature is especially beneficial on long trips or while waiting in traffic.
    Major League Soccer Names Detroit As Finalist For Expansion Team

    Major League Soccer Names Detroit As Finalist For Expansion Team

    Rowdies owner Bill Edwards commented on the MLS decision two weeks ago when rumors about the expansion decision first surfaced. With two new teams in this round and another two franchises afterwards, the total number of teams would rise to 28.
    Calls mount to rescue migrants from Libya 'slave trade'

    Calls mount to rescue migrants from Libya 'slave trade'

    Britain, France and Sweden were drafting a statement , the report added. "This is not the moment to pass the buck". The French police officers had to resort to tear gas to disperse the rally which turned violent.
  • LSE boss Xavier Rolet stands down after 'unwelcome publicity'

    LSE boss Xavier Rolet stands down after 'unwelcome publicity'

    David Warren, the LSE's chief financial officer, will take over as interim CEO until a successor is appointed. Under Mr Rolet, LSE's stock has risen nearly sixfold.
    Subaru Ascent has room for eight and can tow 5000 pounds

    Subaru Ascent has room for eight and can tow 5000 pounds

    The Barkleys, previously featured in Subaru ad campaigns, appeared to be driving the Ascent as it entered the stage Tuesday night. Front and second row heated seats are standard and on Touring models ventilated driver and passenger seats are standard.
    Padmavati Controversy: The Movie Gets Banned In Bihar

    Padmavati Controversy: The Movie Gets Banned In Bihar

    It said the "rule of law" mandated that no one, not even the courts, could pre-judge such matters before the CBFC had taken a decision.