merger
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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.
Microsoft confirms it's buying GitHub for $7.5 billion
The rumors are true: Microsoft is buying GitHub, the online, open-source repository for code, for $7.5 billion in stock. "Microsoft is a developer-first company, and by joining forces with GitHub we strengthen our commitment to developer freedom, openness and innovation," CEO Satya Nadella said in a post on the Microsoft blog. "We recognize the community responsibility we take on with this agreement and will do our best work to empower every developer to build, innovate and solve the world's most pressing challenges."
DOJ wants Turner properties spun off if AT&T deal is approved
In 2016, AT&T announced plans to acquire Time Warner for $85.4 billion -- a deal that eventually led to a Department of Justice antitrust lawsuit filed in November of last year. The six-week trial resulting from that lawsuit wrapped up last week and now both sides have filed post-trial briefs as US District Judge Richard Leon prepares his decision. At the end of the trial, Leon suggested both parties work out remedies depending on which way he rules and in its post-trial brief that was unsealed today, the DOJ suggests AT&T be required to divest itself of major assets if the merger isn't blocked altogether.
T-Mobile and Sprint will merge to create a 5G powerhouse
After years of on-again, off-again talks, it's official: T-Mobile and Sprint have announced plans to merge. The all-stock, $26 billion deal values Sprint at $59 billion (the combined company would be worth $146 billion) and will give T-Mobile the reins, with the carrier's John Legere serving as CEO and Mike Sievert continuing to operate as COO. Sprint chief Marcelo Claure will serve on the board of directors alongside Masayoshi Son, the CEO of Sprint's parent company SoftBank. As for the ostensible reason for the merger? If you ask the networks, it's all about 5G.
T-Mobile and Sprint may announce a merger after all
T-Mobile and Sprint have started and stopped merger talks so often that it's easy to become jaded about the whole thing, but it now looks like they're close to a deal -- no, for real this time. Sources talking to CNBC, Reuters and the Wall Street Journal have all insisted that the two carriers are close to finalizing a merger agreement that could be announced as soon as April 29th. The pact would reportedly value Sprint at $26 billion and would give T-Mobile's parent Deutsche Telekom a roughly 40 percent stake in the combined carrier. T-Mobile chief John Legere would run the combined entity.
Broadcom gives up on Qualcomm buyout after Trump veto
The will-they/won't-they flirtation between two of the world's largest mobile chip companies has come to an abrupt end. Broadcom has announced that it will no longer attempt to buy its US-based rival, Qualcomm. In a statement, Broadcom said that it was "disappointed with this outcome," and would drop its attempts to appoint nominees to Qualcomm's board.
Judge rejects AT&T request for White House records on Time Warner merger
After the Department of Justice filed suit last November to block AT&T's intended $85 billion merger with Time Warner, the telecom giant wanted to find out how much the White House was involved. The company had good reason to wonder how much direction the DOJ may or may not have taken from the Trump Administration given how much the President had publicly opposed the merger during his 2016 campaign. But today, a federal judge denied AT&T's request for any communications records between the DOJ and the White House.
Apple's Shazam acquisition faces scrutiny from European Commission
While Discovery Communications and Scripps Networks got good news from the European Commission today, Apple and Shazam weren't so lucky. In December, Apple confirmed that it purchased Shazam for an undisclosed amount believed to be in the range of $400 million. But today the European Commission said that upon request by a number of European nations, it would be assessing the deal. The proposed acquisition wasn't large enough to require evaluation by the EC directly, but Austrian laws required the companies to seek regulatory clearance there. A European Union provision allows EU countries to ask the EC to look at proposed mergers, and Austria did just that. Iceland, Italy, France, Norway, Spain and Sweden then signed onto that request.
Discovery, Scripps merger gets approval from European Commission
Discovery Communications Inc. announced today that the European Commission has approved its acquisition of Scripps Networks Interactive. The merger was announced last July and both companies' shareholders voted to approve the $14.6 billion deal in November. Discovery, which owns TLC, Animal Planet and the Discovery Channel will gain Scripps holdings such as HGTV, Food Network and the Travel Channel and once combined, the company will control around 20 percent of ad-supported, pay-TV audiences in the US.
