Time Warner deal APPROVED with no conditions




Now Comcast is free to pursue the 21st Century Fox assets it seeks, perhaps beginning today (people are still waiting).





Edmund Lee for the NY Times:

"It is hard to overstate how closely Comcast was monitoring the situation. Executives at NBCUniversal had dispatched people to wait in the courtroom to hear the verdict. Mr. Roberts waited at his executive offices at Comcast’s headquarters in Philadelphia, tuned to CNBC and keeping an eye on Twitter."

https://www.nytimes.com/2018/06/12/business/media/comcast-fox-media-deal-att.html


AT&T CEO Randall Stephenson ends a troubling losing streak vs DOJ.

Why did DOJ waste so much in time and resources in pursuing the case?
Likely never even had a chance, exemplified by the "no conditions attached" aspect of ruling.

MoffettNathanson principal and senior analyst Craig Moffett downgraded AT&T to “sell” from “neutral” a day after its blockbuster deal to acquire Time Warner was approved, Multichannel News' Mike Farrell reported:

"In a research note, Moffett said the problem isn’t Time Warner as much as the rest of AT&T’s business. Video distribution revenue – basically DirecTV – fell 6.2% in the last quarter and consumer broadband revenue is down 3.2%. Wireless revenue is down 1.7% and commercial wireline, which Moffett said is a business about as big as Time Warner itself, is down 3.3%."



Look for the AT&T logo at the start of all Time Warner programming and movies.


at 4:43 PM

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