Justice Department to sue to prevent AT&T from buying Time Warner
15 replies, posted
[quote]The U.S. Department of Justice will file a lawsuit later on Monday to block AT&T Inc’s (T.N) $85.4 billion acquisition of Time Warner Inc (TWX.N), a source familiar with the matter told Reuters on Monday.
The legal challenge was expected after AT&T rejected a demand by the Justice Department earlier this month to divest its DirecTV unit or Time Warner’s Turner Broadcasting - which contains news network CNN - in order to win antitrust approval. [/quote]
[url]https://www.reuters.com/article/us-time-warner-m-a-at-t/u-s-to-sue-to-block-att-purchase-of-time-warner-source-idUSKBN1DK2HN?il=0[/url]
Not really sure what AT&T's motivation is to do this. They take on so much extra shit they don't need by buying the company. And they should probably know better as to the economic consequences of approaching the border into monopoly or trust.
While I support this move, it's probably for an entirely different reason than our president has in mind. I think it's good to block the acquisition because I believe no telecommunications corporation should ever need to be this big. The president, however, most likely wants to block the acquisition simply because it would give more power to his arch nemesis CNN, which is ultimately owned by Time Warner.
Then again, the mortgage crisis happened so maybe financial experts at these companies just don't care.
[QUOTE=Tangerine;52909577]While I support this move, it's probably for an entirely different reason than our president has in mind. I think it's good to block the acquisition because I believe no telecommunications corporation should ever need to be this big. The president, however, most likely wants to block the acquisition simply because it would give more power to his arch nemesis CNN, which is ultimately owned by Time Warner.[/QUOTE]
The Justice Department has always blocked oligopoly power-moves. No matter what Trump had said, they were going to sue anyway. Don't look too much into it.
AT&T has a history of this sort of thing
[QUOTE=Adelle Zhu;52909575]Not really sure what AT&T's motivation is to do this. They take on so much extra shit they don't need by buying the company. And they should probably know better as to the economic consequences of approaching the border into monopoly or trust.[/QUOTE]
You DO know this is [url=https://i.imgur.com/Tvh6teU.jpg]AT&T[/url] we're talking about, right?
I'd laugh if this is another thing that gets him impeached. Its pretty obvious they're doing this because of Trump, they've litterally rewritten the rules for sinclair to do something much much worse.
[QUOTE=TheTalon;52910029]AT&T has a history of this sort of thing[/QUOTE]
It really should be broken up. [URL="https://en.wikipedia.org/wiki/History_of_AT%26T#Breakup"]Again[/URL].
It's crazy how history in the US is just repeating itself
[QUOTE=UncleJimmema;52911012]It really should be broken up. [URL="https://en.wikipedia.org/wiki/History_of_AT%26T#Breakup"]Again[/URL].[/QUOTE]
what a bunch of fucking babies ahahaha
[img]https://i.imgur.com/MCeLzbc.png[/img]
(also america started the first and second world war, riiiight.)
[QUOTE=Gamerman12;52911196]what a bunch of fucking babies ahahaha
[img]https://i.imgur.com/MCeLzbc.png[/img]
(also america started the first and second world war, riiiight.)[/QUOTE]
Corporations blaming the government for the unemployment and the great depression...
:asdfghjkl;':
[QUOTE=TraderRager;52911384]Corporations blaming the government for the unemployment and the great depression...
:asdfghjkl;':[/QUOTE]
Well, duh. Of course it's the government's fault.
If the government just made it so people were legally [b]forced[/b] to work for AT&T, and not working for AT&T was a federal crime, then there'd be no unemployment!
I feel like the anti-trust/monopoly bar should be lower.
[I][B]much lower.[/B][/I]
A lot of the mergers over the past 30 years should have been prevented. They tend to result in a large, but incompetent, company (*cough* AOL *cough*) gobbling up smaller companies that are more competent in what they're doing. Resulting in inferior service. Especially when it cuts the number of competitors down.
AT&T is doing this because Verizon and Comcast also bought media companies in the last few years. Those mergers should have also been prevented.
[QUOTE=Kigen;52912095]A lot of the mergers over the past 30 years should have been prevented. They tend to result in a large, but incompetent, company (*cough* AOL *cough*) gobbling up smaller companies that are more competent in what they're doing. Resulting in inferior service. Especially when it cuts the number of competitors down.
AT&T is doing this because Verizon and Comcast also bought media companies in the last few years. Those mergers should have also been prevented.[/QUOTE]
It pretty much goes against the nature of having competition in a free market.
Can't compete with a better product or service? Just BUY the ones that do better!* :downs:
*from that point on you can either crutch yourself on someone else's hard work and efforts to build a customer base, or simply run it into the ground so people are forced back to your shitty service, or someone eventually makes something else as good if not better, then repeat the process of buying the competition
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