4 P.M. Today — Your TV Experience Changes Forever
Dear Rundown Reader,
Comcast wants Fox.
Fox wants Disney.
They all want Sky Network.
Plus AT&T, who owns DirecTV, wants Time Warner. This is getting complicated…
Thankfully at 4 p.m. today we should have some clarity on the current media merger madness.
The thing is… It could change your TV viewing experience forever.
Today’s Rundown shows why and what it means for us consumers.
Your Rundown for Tuesday, June 12, 2018…
DOJ Seeks To Block AT&T/Time Warner Mega-Merger
The future of media will be determined at 4 p.m. this afternoon.
That’s when we can expect the U.S. Justice Department to rule on the proposed merger between media behemoth Time Warner (NYSE: TWX) and telecommunications giant AT&T (NYSE: T).
NPR reports, sources close to the case note the DOJ is far from keen on allowing the $85 million deal go pass.
For six weeks officials argued against the deal in court.
The DOJ claims the deal will give AT&T too much power, through its DirecTV service, encouraging price gouging or channel blackouts.
This of course all at the expense of consumers like you and I.
AT&T’s arguments are pretty straightforward. They say they won’t price gouge folks, and at worse, the extra cost per subscriber would be pennies.
At 4 p.m. today we’ll know whose arguments held the most sway.
Meanwhile, AT&T stock is on the upswing. Shares closed at $34.18 yesterday, up over 6% for the past five days.
Pre-market this morning the stock was up almost another point to $34.44.
Time Warner shares are seeing similar action this week, up almost 3% at yesterday’s close. Pre-market this morning shares were up another 0.26% to $96.50.
The deal itself was long in the making.
Reuters reporting negotiations took almost 2 years to complete after its original announcement in 2016.
The time taken to hash things out speaks to the incredible importance of the deal. According to Forbes, it could set sweeping precedent for similar deals to follow.
And with Fox trying to merge with Disney, Comcast trying to buy Fox and everyone vying for Sky Network, there’s a lot at stake moving forward.
Quite frankly the future of media is in the balance, and we’re all waiting with baited breath to see what’s next.
Now, turning to the markets this morning…
Market Rundown for Tues., June 12
Yield on the 10-Year Treasury sits at 2.97% this morning, up 0.013.
S&P 500 futures are down 2.75 at 2,780.
Oil’s down slightly to $65.93.
Gold’s down $1.80 at $1,301.
Bitcoin goes for $6,836 this morning, according to CoinDesk.
We’ll talk again on Wednesday.
For the Rundown,