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DOJ says AT&T, Time Warner need to sell CNN for merger approval: report
The Justice Department has told AT&T Inc. that the company needs to sell CNN, Time Warner's cable news network, in order for its proposed $84.5 billion acquisition of Time Warner Inc. to be approved, according to a report in the Financial Times, which cited people with knowledge of the negotiations. Shares of Time Warner were down more than 5% on Wednesday. According to the report, selling CNN is just one of the demands being made, but the deal's approval relies on that. CNN has been the target of much of President Donald Trump's "fake news" bashing in the first year of his term. According to the FT, AT&T is not really interested in selling the news network, and the company is prepared to take the Trump administration to court. Shares of Time Warner have declined more than 7% in the year to date, and AT&T shares are down nearly 22%. By comparison, the S&P 500 index is up close to 16% and the Dow Jones Industrial Average is up more than 19%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
CORRECTED-Viacom looks to U.S. mobile deals as young viewers flee TV
NEW YORK, Oct 26 (Reuters) - Viacom Inc is trying a
new tactic in its multi-front effort to win back younger U.S.
viewers ditching expensive cable TV packages: seeking deals
directly with mobile phone networks.
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