Table of Contents - June 22, 2018

AT&T, DoJ Strike Deal On Turner Operations In Wake of Court Ruling

Senior U.S. District Judge Richard Leon on June 12 rejected the Justice Department's attempt to block AT&T, Inc.'s, proposed acquisition of Time Warner, Inc.

Judge Leon said in his 172-page memorandum opinion that "the Government has failed to meet its burden to establish that the proposed 'transaction is likely to lessen competition substantially.'"

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Comcast Makes $65B Bid For Twenty-First Century Fox

Comcast Corp. announced on June 13 a $65 billion bid for certain assets of Twenty-First Century Fox, Inc., arguing that its cash offer was superior to that of the Walt Disney Co.'s $52.4 billion offer for the same assets. The announcement was expected given the June 12 decision by a federal judge to allow AT&T, Inc., to acquire Time Warner, Inc. (see separate story). But Disney topped the Comcast bid on June 20.

The assets covered by Comcast's offer include the businesses that Twenty-First Century Fox has agreed to sell to Disney, which includes Twenty-First Century Fox's film and TV studios, cable entertainment networks, and international TV businesses but not its news, sports, and broadcast businesses such as Fox News Channel, Fox Business Network, Fox Broadcasting Co., Fox Sports, Fox Television stations, and its sports networks.

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