Entertaiment

Comcast Attempts to Outbid Disney For Fox

Comcast Attempts to Outbid Disney For Fox

A federal judge ruled on Tuesday that AT&T can move forward with its $85 billion acquisition of Time Warner.

Ryan Radia, a research fellow at the Competitive Enterprise Institute, a right-of-center think tank in Washington, praised the ruling.

Comcast on Wednesday offered $65 billion for key film and television assets of Rupert Murdoch's 21st Century Fox, topping an offer from Walt Disney Co. for a deal that could create a dominant media-entertainment power.

The US Department of Justice-the nation's antitrust authority-sued to block the deal late past year, arguing that Time Warner's media brands like HBO, Warner Bros., and CNN would give AT&T outsized power, hurt competition, and lead to higher prices for consumers. "They know what the government is concerned about", he said. He said the merger "would unlawfully raise prices for cable-TV subscribers and harm online innovation".

But Leon blocked discovery on certain White House communications that AT&T and Time Warner were seeking, and the companies dropped that defense, choosing to litigate the case on pure antitrust grounds. 21st Century Fox already agreed in December to sell those assets to Disney, which include all of the movie studio 20th Century Fox, a stake in Hulu, their stake in global broadcaster Sky and many regional sports channels, among other assets.

Comcast Officially Puts in $65 Billion Bid for 21st Century Fox, Topping Disney's Current Bid
Comcast offers $65 bn for Fox assets, topping Disney offer

It is worth remembering that the Justice Department is reviewing the T-Mobile/Sprint combination, and the Justice Department did not approve AT&T's purchase of Time Warner.

Other deals are expected in the wake of Tuesday's ruling, with Verizon on the hunt for a content company, Lionsgate in search of a buyer and any one of several scenarios playing out in the long-running drama over CBS and Viacom. Should this happen, it would merge the likes of NBC and Universal with FX and 20th Century Fox. And because Comcast has less of a presence outside the United States, the company expects it can get global clearance easily. Some suspected, however, that the real motivation behind the DOJ's case may be personal and political agenda of Donald Trump himself: He sees CNN as his political nemesis, and CNN is owned by Time Warner.

Attorneys for AT&T and Time Warner argued that it would be absurd for them to deny their shows to millions of viewers, because it would cost them millions in lost broadcast fees and advertising revenues.

Trump, who despises CNN, had threatened to kill the deal when it first surfaced in October 2016, when he was a presidential candidate. The cable provider planned to approach Fox investors and has told the Justice Department of its interest, an early step in addressing potential antitrust concerns, according to a person familiar with the matter. "It looks bad to lose", said Radia.





  • CDPR outs Cyberpunk 2077 as a 'first-person RPG'

    CDPR outs Cyberpunk 2077 as a 'first-person RPG'

    Cyberpunk 2077 is likely to be at least a year or two away yet, so it makes sense for CD Projekt Red to keep its options open. V has an apartment and can have one-night stands - CD Projekt Red was keen to point out that it is very much an adult game.
    Farmers Block Refineries to Protest Palm Oil Import

    Farmers Block Refineries to Protest Palm Oil Import

    Contrastingly, Malaysian officials have warned of possible trade repercussions that could affect a French fighter jet deal. Total's decision was "the last straw", she said in an interview with Franceinfo television.
    United States, Canada and Mexico awarded 2026 World Cup

    United States, Canada and Mexico awarded 2026 World Cup

    The Football Association has not hosted the tournament since 1966, having failed in bids for the 1990, 2006 and 2018 tournaments. On Twitter Trudeau said: "Good news this morning: The 2026 FIFA World Cup is coming to Canada, the United States and Mexico".
  • Trump declares there is ‘no longer a nuclear threat from North Korea’

    Trump declares there is ‘no longer a nuclear threat from North Korea’

    The U.S. has stationed combat troops in South Korea since the end of the Korean War and has used them in a variety of drills. He also said that the North Korean leader agreed to destroy a "major" missile testing site.
    FOMC raises the target for Fed funds rate by 25bp to 1

    FOMC raises the target for Fed funds rate by 25bp to 1

    The rate is estimated to fall 3.5% next year , through to 2020, down from the previous forecast of 3.6%. The unemployment rate is 3.8%, the lowest since 2000 and tied for the lowest reading since 1969.
    USA  fighter jet crashes into sea off Japan

    USA fighter jet crashes into sea off Japan

    The Air Force pilot of the F-15C Eagle was recovered by members of Japan's Air Self-Defense Force based out of Naha, Japan. Air Force F-15 fighter jet at Kadena Air Base on the southern island of Okinawa in Japan.
  • Mohamed Salah shrugs off injury to join Egypt training

    Mohamed Salah shrugs off injury to join Egypt training

    So I thought to myself, I have quite a few games to play before the end of the season, I can break the all-time record!
    Trump says Kim's will to change as great or greater than his

    Trump says Kim's will to change as great or greater than his

    Carmen Electra's ex-husband was on national television in a Make America Great Again hat sobbing while worshipping Kim and Trump. In August 2017, Pyongyang threatened missile strikes on Guam, the only U.S. territory easily in reach of North Korean missiles.
    Almost  a million vehicles caught in Mercedes-Benz's emissions scandal

    Almost a million vehicles caught in Mercedes-Benz's emissions scandal

    In a statement posted on Twitter, the company said: "Daimler confirms the recall". It is not the first time Daimler has faced problems with its emissions software.
  • Californians to vote on splitting state three ways

    Californians to vote on splitting state three ways

    If the unlikely plan is successful, it would be the first time an existing US state split since West Virginia was created in 1863. Silicon Valley venture capitalist Tim Draper proposes turning California into three states.
    Greece, Macedonia 'Have A Deal' On Name Dispute

    Greece, Macedonia 'Have A Deal' On Name Dispute

    Zaev said that the definition of the country's language will remain "Macedonian", as Skopje insisted in the talks. Alexis Tsipras and Zoran Zaev made the announcements shortly after speaking by phone on Tuesday.
    Resident Evil 2: the remake's trailer and details

    Resident Evil 2: the remake's trailer and details

    The cool thing is that players will be returning to the ominous dark, and zombie-infested streets of Raccoon City. This is a complete and total remake of the original title that actually looks better than most modern games.