While Comcast has made no secret of its desire to buy up Fox from the Murdoch clan, the chances of any deal actually going through were undercut by fears the merger would not be passed by government regulators. The Fox television network and some cable channels including Fox News and Fox Business Network would stay with Murdoch's family under either deal, as with the newspaper and book businesses under a separate company, News Corp. Disney has made its own $52.4 billion bid for the bulk of the company.
For months AT&T efforts to merge with Time Warner have been held up by the Department of Justice efforts to block the merger. Numerous company's assets were long thought to be acquired by Disney, but as promised, Comcast has now officially swooped in with a superior offer to acquire Fox's film studio, most of its TV channels, and more. In addition the cable giant says it will reimburse Fox the full $1.525bn break-up fee it would owe Disney if Team Rodent's offer is turned down.
"Common sense tells you that this degree of concentrated power isn't right", wrote Zephyr Teachout, a candidate for attorney general of NY, wrote immediately following the judge's ruling. Leon ruled it had failed to prove that the deal would suppress competition in the pay-TV industry. Prior to the deal, Fox had entertained a much higher bid from Comcast in the low $60 billion range but ultimately terminated talks early on due to antitrust concerns.
Makan Delrahim, the Justice Department's top antitrust official, said the government was disappointed in the ruling and would "consider next steps".
The merger agreement will have no conditions imposed on it by the court
AT&T argued that its proposed acquisition of Time Warner is a defensive move against the increasing threat of internet TV services like Netflix, Amazon, and YouTube. And because Comcast has less of a presence outside the U.S., the company expects it can get worldwide clearance easily.
Now that a federal judge has approved AT&T's $85 billion takeover of Time Warner, other companies are likely to rush to consolidate.
"Compare today to the 50s or 60s when we had three television stations and you had one AT&T that was, then, protected by government monopoly", Crews said.
Number three wireless carrier T-Mobile, meanwhile, is seeking a tie-up with number four Sprint. Interestingly enough, Fox stated its board of directors recommends they vote in favor of selling to Disney. However, in recent weeks, we've heard rumblings that Comcast was looking to make a more generous, all-cash offer...but is this something the government would allow?
Californians to vote in November on breaking into 3 separate states
The measure, like every other initiative eligible for the ballot, comes with a short summary of its estimated fiscal impact. Would it require approval by other government bodies? The proposal aims to invoke Article IV, Section 3 of the U.S.
Dennis Rodman arrives in Singapore for Trump-Kim summit
Citizens in the North Korean capital watched the coverage on a big screen TV and read it on the front page of newspapers. That is not something that other countries would have - I would say - initial domain over a discussion with us.
Hierro replaces sacked Lopetegui as Spain manager
Comparing the Spanish turbulence with England's camp so far, Butland added: "I don't think we'll ever be in that situation". Maybe this is tough now, but in the end it will make us stronger.