The second biggest wireless carrier in America has recently announced this week that it has completed its acquisition of Time Warner for a sum of $85 billion. Earlier this week, United States District Court Judge Richard J. Leon had ruled in favor of AT&T, effectively saying that the US government had not presented enough evidence to prove that the merger between AT&T and Time Warner would negatively impact customers.
Score one for wireless service providers looking to consolidate with multimedia companies (or fellow mobile operators). United States District Court Judge Richard J. Leon has ruled in favor of national carrier AT&T in the US government’s antitrust suit to stop the proposed merger deal from happening between Time Warner and AT&T.
This week saw United States lawmakers grill the second biggest wireless carrier in America regarding its plans to complete its acquisition of media empire Time Warner for a sum of $85 billion. Some of the questions thrown by the US Senate antitrust subcommittee revolved around how the merger would potentially impact prices for Americans or affect fair competition among online video content service providers.
AT&T confirmed over the weekend that it will be acquiring Time Warner for a sum of $85.4 billion, which makes it one of the most expensive acquisitions in history. The merger will be done via a half stock, half cash deal, and both companies are expecting the acquisition to be finalized by the end of next year.
If regulators approve this deal, it would mean that AT&T would gain ownership of Time Warner’s treasure trove of content, which includes CNN, HBO, Cartoon Network, Adult Swim, Warner Bros, New Line Cinema, TNT, and TBS.
It appears so, according to a report published by Bloomberg just this week. Officials from AT&T and Time Warner have reportedly been involved in discussions over the past few weeks regarding a potential blockbuster merger between the wireless giant and the media powerhouse. Bloomberg’s report did describe the discussions as more formal in nature -- paying more attention to forging strategic partnerships as opposed to a complete acquisition.
Charter Communications’ mega-acquisition of rival cable operators Time Warner Cable (TWC) and Bright House Networks has been given the go signal by the Federal Communications Commission (FCC). In its rather long filing detailing the approval of the deal, the FCC addressed the possibility that this trio of business entities may look to venture into wireless service territory, including introducing a new mobile virtual network operator (MVNO). On top of that, the FCC also gave a rough idea of the companies’ plans to further expand their public Wi-Fi coverage, which could potentially affect other players in the wireless industry.
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