AT&T Merger Could Threaten Netflix's & Amazon's Competitive Edge
*By Alisha Haridasani*
AT&T's $85 billion takeover of Time Warner will disrupt traditional broadcast and upend internet streaming, fundamentally changing the way consumers watch TV, said Rich Greenfield, an analyst at BTIG.
With content from HBO, CNN, and Warner Bros., AT&T will launch a "skinny bundle" of 30 channels called AT&T Watch that will be free for all AT&T wireless subscribers, Greenfield said.
“That is going to be a really disruptive move by AT&T,” he added. “It’s going to be interesting to see how the other tech companies react to this.”
Streaming services Netflix, Hulu, and Amazon, which create original programming that reaches consumers directly via the internet, have broken the broadcast and cable TV stranglehold on content, putting pressure on subscription and TV advertising revenue.
“Roughly 20 percent of American households have cut the cord, discontinuing traditional MVPD services,” U.S. District Judge Richard Leon wrote in his [opinion](http://www.dcd.uscourts.gov/sites/dcd/files/17-2511opinion.pdf) approving the AT&T bid. “That number, high as it is, continues to grow.”
The AT&T-Time Warner merger, which is expected to be completed next week, sets the stage for more vertical integrations between content creators and distributors. Comcast is expected to make another [bid](https://cheddar.com/videos/rich-greenfield-murdoch-no-longer-set-on-selling-to-disney-for-stock) for 21st Century Fox’s assets as early as Wednesday in an effort to wrestle it away from Disney. If Comcast is successful, it would marry Fox’s Hollywood studio and its British broadcaster Sky with Comcast's NBC Universal.
Comcast may partner up with other companies to make that offer more attractive for Fox chairman Rupert Murdoch, said Greenfield.
“In order to really beat Disney, they sort of need a stronger balance sheet,” he said.
For the full interview, [click here](https://cheddar.com/videos/why-at-and-ts-victory-is-monumental).
Wendy O, host of 'The O Show' joins Cheddar News to discuss the recent rally from cryptocurrency, Ether. She also discussed incoming New York City mayor Eric Adams wanting to teach kids crypto in schools.
Professional sports is facing a reckoning right now over several stories painting an ugly picture of a toxic work environment, encompassing multiple teams in multiple leagues and dealing with different issues.
This week, the NHL's Chicago Blackhawks ousted their general manager and senior director of hockey operations after an investigation confirmed former player Kyle Beach's claims that the team's former video coach Brad Aldrich sexual assaulted him back in 2010, with upper management ignoring his claims until after the team won the Stanley Cup that season. Last night, Joel Quenneville, now the coach of the Florida Panthers but Chicago's coach that season, stepped down from his post.
This comes just a few weeks after the NFL was rocked by leaked emails showing now-former Las Vegas Raiders Head Coach Jon Gruden using racist, sexist and homophobic language. He resigned soon after the emails came to light. We can't forget, though, that those emails come from a much broader investigation of the toxic work environment in the offices of the Washington Football Team. NFL Commissioner Roger Goodell said this week the league wouldn't publicly release anything from its investigation of the team, but lawyers for many of the women interviewed in the case say they want a public report.
And last January, just one month after hiring him, the New York Mets had to fire then-General manager Jared Porter, who admitted to sending explicit, unsolicited texts and images to a female reporter in 2016 when he worked for the Chicago Cubs. ESPN had been in possession of the texts since 2017, but the woman in question asked the network not to run the story out of fear her career would be harmed. She only reached back out to ESPN after she left the field of journalism altogether. Porter has been banned from the sport through next season.
If you believe in the phrase "where there's smoke, there's fire," professional sports is a five-alarm blaze.
Julie DiCaro, senior writer and editor at Deadspin, joins None of the Above to discuss.
Curaleaf CEO Joe Bayern joined Cheddar's "Closing Bell" to discuss the cannabis company's Q3 earnings report, which came in under expectations and included widening losses. Bayern discussed taking a hit on profitability based on the slower-than-expected expansion in some Northeast markets. While the company reduced its fiscal guidance for 2021 due to a general slowing of the cannabis market, he did note that he still sees much room for growth in 2022 and beyond.
Online consignment and thrift shop thredUP reported a Q3 earnings beat on Monday, and CEO James Reinhart joined Cheddar to discuss exceeding expectations and the state of the business overall. Reinhart said the company is thriving while other businesses may face supply chain issues due to the convenience of its system of acquiring secondhand clothing. "In a world where most consumers are feeling squeezed by prices and seeing apparel shortages, everything we have on thredUP is 100 percent in stock and ready to ship," he said. "And so I think it speaks to real opportunity for resale and a company like thredUP during the holiday season and into 2022."
Former NBA star, commentator, and entrepreneur Baron Davis and Deluxe Corporation Chief Brand Officer Amanda Brinkman, joined Cheddar to discuss Season 6 of the reality show "Small Business Revolution," premiering Tuesday. The season will focus on helping six Black-owned businesses in the Twin Cities, Minneapolis and St. Paul. Davis noted learning about the lack of resources, connections, and opportunities for Black business owners during the show. "There are so many things we need to do as a society to address racial injustice and inequity, however, one of the ways for it is economic empowerment," Brinkman added.
Katia Beauchamp, strategic advisor for FemTec Health and former Birchbox CEO, joined Cheddar to discuss the health and beauty sciences company's recent acquisition of subscription beauty supply provider Birchbox. She noted that FemTec wants to change the perception of the brand to include health as well as beauty. "This is something where we are reimagining how can we help consumers discover beauty products that really help them take great care of themselves, have beautiful underlying health that is shown on the exterior too," she added.
Cryptocurrencies are getting off to a good week. Ethereum surged more than 4% in 24 hours on Monday, hitting a new all-time high above $4,700. Meanwhile, Bitcoin surged 7% to a price of $66,250. Haohan Xu, founder and CEO of Apifiny, joins Cheddar News with thoughts on the growing sector.
The latest Marvel movie hit theaters with one of the biggest opening weekends of the year. 'Eternals' opened over the weekend with an estimated $71 million, the fourth-best domestic debut this year. Erik Davis, managing editor at Fandango, joins Cheddar News to talk about the state of box office sales.
Ryan Lupberger, Sustainability Pioneer and CEO of Cleancult, joins 'Cheddar Reveals' to break down how Cleancult is redefining cleaning products and solutions to reduce their impact on the planet.
On this episode of 'Cheddar Reveals', Lydia McMullen-Laird and Samuel McMullen, co-founders of Live Zero Waste, discuss the sum of humanity's 'trash addiction' and lifestyle changes people can make to help reduce their individual trash output; Ryan Lupberger, Sustainability Pioneer and CEO of Cleancult, breaks down how Cleancult is redefining cleaning products and solutions to reduce their impact on the planet; Cheddar gets a look at Curiosity Stream's 'Going Circular.'
