AT&T/Time Warner Deal Could Open the Floodgates for Mergers
*By Mike Teich*
If AT&T's $85 billion bid for Time Warner was allowed to proceed, it could lead to a new wave of media and telecom mergers, and smooth the way for deals like the Sprint-T-Mobile merger announced on Sunday, said Dan Primack, the business editor at Axios.
A federal judge heard arguments Monday over the potential impact of the AT&T-Time Warner deal on consumers. The Department of Justice sued to block the deal for fear it would give AT&T too much power. The wireless company argued there is plenty of competition from content companies such as Disney and new media powerhouses like Google and Netflix that would counterbalance its influence if it were to take over a content shop like Time Warner.
The lead lawyer for AT&T and Time Warner told Judge Richard J. Leon of U.S. District Court for the District of Columbia that blocking the merger would [dampen competition](https://www.nytimes.com/2018/04/30/technology/att-time-warner-trial.html), according to The New York Times. The judge is expected to rule in June.
Primack said in an interview Tuesday with Cheddar that AT&T doesn't need the deal to go through in order to survive, but it would enable the telecom company to challenge new media rivals.
If the acquisition was allowed, Primack said "we will see a run on mergers" in media and telecom. If the deal was quashed, he said there will be a "big freeze."
That could mean a halt ー for the third time ー to the merger of the third and fourth largest wireless carriers, T-Mobile and Sprint. Their $26 billion dollar deal must be approved by federal regulators.
For the full interview, [click here](https://cheddar.com/videos/future-of-telecom-mergers-hinges-on-at-and-t-time-warner-case).
The Biden administration has enacted a new labor rule that aims to prevent the misclassification of workers as independent contractors. The labor department rule going into effect Tuesday replaces a scrapped Trump-era standard that lowered the bar for classifying employees as contractors
The KC-46 was to be the ideal candidate for a fixed-price development program. Instead, it has cost Boeing billions, and made industry wary of such deals.
Dave Long, CEO and Co-Founder of Orangetheory Fitness joins Cheddar to chat trends in the industry for 2024. He updates us on the company's plans to expand and what the state of the economy has meant for business.
One of the world's largest renewable energy developers will be getting hundreds of wind turbines from General Electric spinoff GE Vernova as part of a record equipment order and long-term service deal.
A moon landing attempt by a private US company appears doomed because of a fuel leak on the newly launched spacecraft. Astrobotic Technology managed to orient the lander toward the sun Monday so its solar panel could capture sunlight and charge its onboard battery.
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
