BakerHostetler announces Ann O’Brien, ex-DOJ, as partner-antitrust and competition ... Public Knowledge hires Sara Collins, ex-Future of Privacy Forum, as policy counsel.
BakerHostetler announces Ann O’Brien, ex-DOJ, as partner-antitrust and competition ... Public Knowledge hires Sara Collins, ex-Future of Privacy Forum, as policy counsel.
The U.K. signed off on either Comcast or Fox buying Sky, though the latter deal would come with a Sky News spinoff. U.K. Secretary of State-Digital, Culture, Media Matt Hancock said Tuesday Comcast/Sky "does not raise public interest concerns" and the government wouldn't intervene. He agreed with the Competition and Markets Authority that Fox/Sky likely wouldn't go against public interest on grounds of hewing to broadcasting standards but said CMA took "a clear and logical approach" when it said such a deal raises concerns about Sky News' editorial independence and about increased Murdoch Family Trust sway over public opinion and U.K. politics. He said the CMA proposal of Sky News being sold to Disney or another suitable buyer, with an agreement ensuring its funding for at least 10 years, "is likely to be the most proportionate and effective remedy for the public interest concerns." He said his staff will start talks with the parties to finalize details for an acceptable Sky News divestiture remedy. "I am optimistic that we can achieve this goal, not least given the willingness 21st Century Fox has shown in developing these credible proposals," he said, saying if the parties can't come to terms, blocking a Fox/Sky deal might be the only fallback. Comcast in April made a formal bid for Sky, while Fox had a pending bid (see 1804250026), and Sky subsequently said it favored the Comcast offer (see 1804260008). Sky Tuesday said its board members are "mindful of their fiduciary duties and remain focused on maximising value for Sky shareholders." Disney "welcome[d] today’s announcement from the Secretary of State and [is] ready to engage in any discussions requested by the Secretary of State.” Fox expects to reach a final decision with the U.K. Department for Culture, Media and Sport that clears the transaction.
The U.K. signed off on either Comcast or Fox buying Sky, though the latter deal would come with a Sky News spinoff. U.K. Secretary of State-Digital, Culture, Media Matt Hancock said Tuesday Comcast/Sky "does not raise public interest concerns" and the government wouldn't intervene. He agreed with the Competition and Markets Authority that Fox/Sky likely wouldn't go against public interest on grounds of hewing to broadcasting standards but said CMA took "a clear and logical approach" when it said such a deal raises concerns about Sky News' editorial independence and about increased Murdoch Family Trust sway over public opinion and U.K. politics. He said the CMA proposal of Sky News being sold to Disney or another suitable buyer, with an agreement ensuring its funding for at least 10 years, "is likely to be the most proportionate and effective remedy for the public interest concerns." He said his staff will start talks with the parties to finalize details for an acceptable Sky News divestiture remedy. "I am optimistic that we can achieve this goal, not least given the willingness 21st Century Fox has shown in developing these credible proposals," he said, saying if the parties can't come to terms, blocking a Fox/Sky deal might be the only fallback. Comcast in April made a formal bid for Sky, while Fox had a pending bid (see 1804250026), and Sky subsequently said it favored the Comcast offer (see 1804260008). Sky Tuesday said its board members are "mindful of their fiduciary duties and remain focused on maximising value for Sky shareholders." Disney "welcome[d] today’s announcement from the Secretary of State and [is] ready to engage in any discussions requested by the Secretary of State.” Fox expects to reach a final decision with the U.K. Department for Culture, Media and Sport that clears the transaction.
The idea that being part of New AT&T would give Turner leverage to raise its affiliate fees on distributors is like speaking Greek to the programmer universe, Time Warner CEO Jeff Bewkes testified in the U.S. v. AT&T and TW antitrust trial Wednesday. “It’s not how this works,” he said, saying any blackout of Turner would be “catastrophic” in lost advertising revenue and lost affiliate fees. He likened increased incentives to a Turner blackout under New AT&T to the equivalent of a 950-pound weight falling on that company’s head versus a 1,000-pound weight on TW’s head. AT&T CEO Randall Stephenson is scheduled to testify Thursday.
The idea that being part of New AT&T would give Turner leverage to raise its affiliate fees on distributors is like speaking Greek to the programmer universe, Time Warner CEO Jeff Bewkes testified in the U.S. v. AT&T and TW antitrust trial Wednesday. “It’s not how this works,” he said, saying any blackout of Turner would be “catastrophic” in lost advertising revenue and lost affiliate fees. He likened increased incentives to a Turner blackout under New AT&T to the equivalent of a 950-pound weight falling on that company’s head versus a 1,000-pound weight on TW’s head. AT&T CEO Randall Stephenson is scheduled to testify Thursday.
The idea that being part of New AT&T would give Turner leverage to raise its affiliate fees on distributors is like speaking Greek to the programmer universe, Time Warner CEO Jeff Bewkes testified in the U.S. v. AT&T and TW antitrust trial Wednesday. “It’s not how this works,” he said, saying any blackout of Turner would be “catastrophic” in lost advertising revenue and lost affiliate fees. He likened increased incentives to a Turner blackout under New AT&T to the equivalent of a 950-pound weight falling on that company’s head versus a 1,000-pound weight on TW’s head. AT&T CEO Randall Stephenson is scheduled to testify Thursday.
Actual empirical evidence from past vertical mergers and splits shows consumer pricing ultimately goes down, the exact opposite of the harm DOJ is projecting in the proposed AT&T buy of Time Warner, the companies' economic expert testified Thursday. DOJ hasn't rested, but U.S. District Judge Richard Leon of Washington said he was letting University of Chicago economics professor Dennis Carlton testify out of order so his testimony comes a day after that of Justice's own economics expert, University of California, Berkeley economist Carl Shapiro (see 1804110025).
Actual empirical evidence from past vertical mergers and splits shows consumer pricing ultimately goes down, the exact opposite of the harm DOJ is projecting in the proposed AT&T buy of Time Warner, the companies' economic expert testified Thursday. DOJ hasn't rested, but U.S. District Judge Richard Leon of Washington said he was letting University of Chicago economics professor Dennis Carlton testify out of order so his testimony comes a day after that of Justice's own economics expert, University of California, Berkeley economist Carl Shapiro (see 1804110025).
Actual empirical evidence from past vertical mergers and splits shows consumer pricing ultimately goes down, the exact opposite of the harm DOJ is projecting in the proposed AT&T buy of Time Warner, the companies' economic expert testified Thursday. DOJ hasn't rested, but U.S. District Judge Richard Leon of Washington said he was letting University of Chicago economics professor Dennis Carlton testify out of order so his testimony comes a day after that of Justice's own economics expert, University of California, Berkeley economist Carl Shapiro (see 1804110025).