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Time Warner shares shoot higher after judge rules in favor of merger with AT&T; other media stocks gain

Time Warner shares shoot higher after judge rules in favor of merger with AT&T; other media stocks gain

Finance
Media and telecommunications stocks shot higher in aftermarket trading Tuesday after a federal judge ruled in AT&T's favor on its $ 85 billion acquisition of Time Warner. Time Warner shares traded more than 5 percent higher in aftermarket trading. The widely anticipated ruling comes amid pent up interest in forging combinations across the entertainment and communications industries. CNBC's parent company, Comcast, has been eyeing a $ 60 billion offer for the Twenty-First Century Fox studio and production assets that are currently part of a deal with Disney. ...
The case against the AT&T-Time Warner deal has gone badly

The case against the AT&T-Time Warner deal has gone badly

Finance
NEAR the end of the antitrust trial over AT&T’s $ 109bn acquisition of Time Warner, Richard Leon, the presiding judge, asked Randall Stephenson, chief executive of AT&T, what the pay-television market would look like in seven years’ time. Mr Stephenson mused in his folksy Oklahoma drawl that seven years ago his predictions for today would have missed “so hard” when it came to the decline of pay-TV and the rise of competition from Silicon Valley.The exchange sounds self-deprecating but it highlighted what AT&T argued was a crucial weakness in the government’s case. The Department of Justice, which is seeking to block the deal, has chiefly looked back to the past, not forward to a video and advertising market increasingly shaped by Netflix, Google an...
AT&T’s merger with Time Warner goes on trial

AT&T’s merger with Time Warner goes on trial

Finance
AN ANTITRUST trial over AT&T’s $ 109bn acquisition of Time Warner, which begins on March 19th, will have more keen observers than one courtroom can handle. Disney, Comcast, 21st Century Fox, Verizon, Charter Communications, CBS and Viacom will be watching. So will Netflix, Amazon and Google.The reason is simple. If AT&T wins the case against the Justice Department, and the “vertical merger” of the distribution and content businesses goes through, a wave of consolidation deals will follow. Companies that rely on large numbers of people to watch video will want to bulk up to compete with each other and Silicon Valley’s mightiest.Get our daily newsletterUpgrade your inbox and get our Daily Dispatch and Editor's Picks.Comcast may make a hostile bid for Fox’s assets, setting off a biddi
Warner, Smith and rain stall England's push for victory

Warner, Smith and rain stall England's push for victory

Sports
Media playback is not supported on this device Fourth Ashes Test, Melbourne Cricket Ground (day four of five)Australia 327 (Warner 103) & 103-2England 491 (Cook 244*)Australia trail by 61 runsScorecardRain halted England's push for victory on the fourth day of the fourth Ashes Test in Melbourne.Australia were 103-2, still 61 behind, when bad weather intervened for the second and final time to wipe 43.1 overs off the day midway through the afternoon. The home side had been 65-2, before David Warner, who made an unbeaten 40, and captain Steve Smith, with 25 not out, watchfully repelled some probing England bowling. During England's time in the field, an Australian television station carried pictures that it claimed showed James Anderso...