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Amazon is reportedly interested in buying Boost Mobile
If helping to create a competitor is a necessary condition to get the Sprint/T-Mobile deal done, then perhaps Amazon can help. A report from Reuters suggests the retailer is interested in buying Boost Mobile from the combo, particularly because it would come with the ability to use T-Mobile's network for six years. The unnamed sources also claimed the company could be interested in spectrum the newly-merged pair would have to divest. Amazon has tried to get into the mobile business before -- remember the Fire Phone? -- and it wouldn't be a huge surprise to see it add wireless to the suite of services it offers. Yesterday's report pointed to the possibility of a cable company trying to rise up as the fourth major mobile operator, but if Amazon can pass regulatory scrutiny, maybe Prime will cover one more thing pretty soon.
Bloomberg: T-Mobile's merger could require creating a competitor
While FCC commissioner Ajit Pai is ready to recommend approval of a merger between T-Mobile and Sprint, the Department of Justice has been reportedly unconvinced. Now Bloomberg reports that one thing the two could do to convince unnamed "top" officials is to "lay the groundwork" for a new national wireless carrier. In previous years the Justice Department has balked at seeing the national wireless market from below the four major options, so it's a surprise to see this is as a condition, but it may not be one they're willing to meet. The report's source claim Justice Department antitrust chief Makan Delrahim specifically is unconvinced by the claim that the two combining would make for a stronger third player against AT&T and Verizon. These concerns helped scuttle AT&T's attempt to take over T-Mobile in 2011, and a previous merger attempt by these two in 2014. Finally, an analyst interviewed suggests that a fourth option could come from a cable company combining spectrum it owns with a virtual network deal -- similar to Comcast's Verizon-powered mobile service. It's unclear whether or not any of this will happen, but if it doesn't, then we could be looking at yet another failed attempt once the deadline passes on July 29th.
T-Mobile and Sprint make promises to clinch FCC's merger approval
T-Mobile and Sprint are still determined to secure a merger, and they've just made a fresh round of promises to win regulators' hearts. The carriers have made new commitments to the FCC that would guarantee wider access to high-speed mobile internet and home broadband, not to mention address concerns about a lack of competition. They've vowed to deploy 5G service that covers 97 percent of the US population within three years of an approved merger, and 99 percent in six years. About 90 percent of Americans would have mobile internet at speeds of "at least" 100Mbps, while 99 percent would have speeds of 50Mbps or more.
T-Mobile and Sprint push merger deadline to July 29th
T-Mobile and Sprint have pushed back the deadline to complete their $26 billion merger, reports Reuters. The companies will now have until July 29th to earn the approval of the US Justice Department and the Federal Communications Commission.
T-Mobile and Sprint merger is 'unlikely' without major changes
So much for T-Mobile and Sprint enjoying a smooth merger. Wall Street Journal sources say the Department of Justice has told the carriers that their $26 billion union is "unlikely" to receive approval under its current structure. While the particular objections aren't available, DOJ offcials reportedly questioned claims that the merger would create "important efficiencies."
Instant Pot's creator is merging with the company behind Pyrex
Instant Pot cookers already have a loyal following, and now they're about have some extra clout, too. Corelle Brands, the company behind kitchen brands like CorningWare and Pyrex, has unveiled plans to merge with Instant Pot's creators Instant Brands. The two hope to create a "world-class" housewares company that covers food prep head-to-toe, whether it's the actual cooking or storing leftovers. Instant's CEO, Robert Wang, also touted that this would help foster its "expanding product development pipeline."
Appeals court upholds AT&T's purchase of Time Warner
AT&T doesn't have to worry that its acquisition of Time Warner might be undone. A federal appeals court has upheld the merger in the face of a Justice Department challenge from July. The explanation behind the decision isn't available as of this writing, but the judge who approved the deal didn't apply conditions. The DOJ was concerned AT&T might raise prices and reduce competition in pay TV by charging providers more for Time Warner (now WarnerMedia) programming.
Democrats want to take another look at the T-Mobile-Sprint merger
T-Mobile's planned purchase of Sprint is facing new and intense scrutiny from the Democrat-controlled House of Representatives. The executives of the two companies will sit before two congressional hearings this week -- House Committee on Energy and Commerce took up the topic on Wednesday and the House Committee on the Judiciary will question the company heads on Thursday.
SiriusXM app is getting Pandora channels later this year
SiriusXM's $3.5 billion acquisition of Pandora is set to close on Friday, and the satellite radio company is already laying out details on how it plans to make the most of its newest toy. In an earnings call with investors held Wednesday, Sirius CEO James Meyer said the company plans to launch Pandora channels within the SiriusXM app.
FCC presses pause on review of the T-Mobile and Sprint merger
The FCC just announced it's "pausing the Commission's informal 180-day transaction shot clock" on the merger between Sprint and T-Mobile. The reasoning for this apparently comes from material submitted only recently by the companies, that break down a planned network engineering model, as well as T-Mobile's "Build 9" business model explaining the deal's financial backing. According to the FCC's letter, it didn't get all of the information about this until September 5th and is still awaiting additional economic modeling from T-Mobile, so it needs more time for staff and third parties to review everything. After years on on-and-off talks, in April the two announced their plan to combine forces just as 5G wireless technology takes over. Then, both companies submitted their initial pitch to the FCC back in June. The Justice Department also needs to decide whether it will allow the merge to occur without a challenge, and now it's unclear how long a full review may take. Update: T-Mobile and Sprint have responded, saying they look forward to working with the FCC. You can find the full statement below.
Sinclair countersues Tribune Media after failed acquisition
Looks like we won't be hearing the end of that Sinclair and Tribune Media drama anytime soon, even though the merger is no longer happening. Sinclair is now counter-suing Tribune Media, accusing the company of trying to profit off of an unfortunate turn of events. The suit claims that the companies were working together, as partners, every step of the way, and Tribune's lawsuit "reflects a deliberate effort to exploit and capitalize on an unfavorable and unexpected reaction from the FCC to capture a windfall for Tribune."
FCC investigator says Pai didn't give Sinclair preferential treatment
More than a few people thought FCC Chairman Ajit Pai was acting suspiciously ahead of the failed Sinclair-Tribune merger. The regulator's Office of the Inspector General, however, would beg to differ. The watchdog has published a report determining that Pai hadn't shown "favoritism" or other forms of shady dealing in his decisions around the abandoned takeover. Pai's choices, such as relaxing media ownership limitations, were "consistent" with his public statements, according to the report. Moreover, Pai's punishments for Sinclair (including a $13.3 million fine and the decision to kill the merger) suggested to the Inspector General that the Chairman was being fair.
New York kicks Spectrum out of the state for 'recurring failures'
Charter cable company acquired Time Warner Cable in a 2016 merger, becoming one of the largest TV providers in the country. Re-branded as Spectrum, the company introduced a streaming option last year. New York, however, hasn't been impressed with the company's performance, and has now kicked Spectrum out of the state and rescinded its approval for the merger.
Disney and Fox's $71.3 billion merger gets shareholder approval
Now that Comcast has withdrawn from the bidding war, Disney is free to proceed with acquiring most of 21st Century Fox's assets. Shareholders for both companies just approved a $71.3 billion buyout, a larger figure than either of the suitor companies' earlier offers. They must still divest 22 regional sports networks per the Justice Department's demands, but should everything go smoothly, the merger is expected to be completed in the first half of 2019.
FCC opens public comments on T-Mobile-Sprint merger
If you have a strong opinion on the proposed $26 billion merger of T-Mobile and Sprint, now's your chance to tell the FCC exactly what you think of the plan. The agency is accepting comments as well as formal petitions to deny the merger until August 27th. Following that, the companies and supporters of the deal can file oppositions to those petitions by September 17th, while a final round of replies has a deadline of October 9th, as the schedule currently stands.
FCC vote likely dooms Sinclair-Tribune merger
The FCC has voted to send the proposed sale of Tribune Media properties to Sinclair to a hearing, effectively hammering the second-to-last nail in the coffin on the buyout. The agency's commissioners unanimously agreed on a Hearing Designation Order (HDO), which re fers the matter to a judge -- at which point mergers usually die.
FCC has 'serious concerns' about Sinclair merger it helped engineer
Sinclair's attempt to buy Tribune Media has raised many concerns in the past year, and not just among advocates concerned about its partisan message and potential for media dominance. The broadcasting giant has revamped its deal several times in a bid to win the hearts of regulators, with its latest proposal offloading 21 stations. However, it looks like the buyout may effectively be dead. FCC Chairman Ajit Pai has produced a draft order that would send disputes over these stations to an administrative law judge, a process that many see as fatal to would-be mergers.
Justice Department appeals approval of Time Warner-AT&T merger
Just when we thought the AT&T--Time Warner merger was finally a done deal after a district court judge ruled in its favor last month, it seems not everyone wants to accept its terms. The Justice Department has filed to appeal the approval, according to a court document spotted by CNBC, which could reverse the deal if the DOJ wins.
DOJ demands Disney sell 22 regional sports channels in Fox acquisition
The Department of Justice announced on Wednesday that it will require Disney to divest from 22 regional sports networks in order to complete its $71.3 billion acquisition of select Twenty-First Century Fox assets.
T-Mobile and Sprint pitch FCC on the merits of their merger
You've heard T-Mobile and Sprint try to sell you on their proposed merger, but it's now regulators' turn to get an earful. The two carriers have submitted their Public Interest Statement to the FCC outlining the claimed benefits of the union, and it won't surprise you to hear that they've portrayed their move as uniformly positive for the country. They're particularly focused on courting cord-cutters -- they see this as a chance to up-end TV and wired broadband at the same time.