Donald Trump remains opposed to the megamerger between AT&T Inc. and Time Warner Inc. because he believes it would concentrate too much power in the media industry, according to people close to the president-elect, who has been publicly silent about the transaction for months. Trump told a friend in the last few weeks that he still considers the merger to be a bad deal, said one of the people, who asked not to be identified because the conversation was private.
Category: Media
AT&T sees faster path for deal
AT&T Inc. and Time Warner Inc. said they can avoid having the Federal Communications Commission scrutinize their proposed merger, eliminating a significant hurdle in the path of the $85.4 billion deal, which has attracted criticism from President-elect Donald Trump. “While subject to change, it is currently anticipated that Time Warner will not need to transfer any of its FCC licenses to AT&T in order to continue to conduct its business operations after the closing of the transaction,” the companies said in a regulatory filing dated Thursday.
AT&T and Time Warner still trying to sidestep FCC scrutiny of merger
AT&T and Time Warner say they have a plan to avoid a Federal Communications Commission review of their pending merger. An FCC review would be necessary if Time Warner transfers any FCC licenses to AT&T, but Time Warner might get rid of any such licenses before the deal is finished.
Rpt: Frontier Airlines Hires Banks to Plan IPO
Low-cost carrier Frontier Airlines is preparing for an initial public offering and has hired banks to plan the debut, The New York Times reported, citing people familiar with the matter. The Denver-based airline is aiming to raise about $500 million, valuing the company at about $2 billion, NYT said, citing sources.
Trump Tells Confidant He Still Opposes AT&T-Time Warner 2 hours ago
Time Warner Inc. because he believes it would concentrate too much power in the media industry, according to people close to the president-elect, who has been publicly silent about the transaction for months. Trump told a friend in the last few weeks that he still considers the merger to be a bad deal, said one of the people, who asked not to be identified because the conversation was private.
The Scariest Thing About Bristol-Myers Squibb’s Dividend
With a current yield of 2.67%, investors still have reason to show the love. But there is something that might seem scary to some investors — the company’s ability to keep the dividends flowing at current levels.
Here’s What Employees Should Be Worried About This Year
A lot is likely to change for American workers in 2017. Here are the biggest things on the horizon and a few things to be hopeful about.
Is It the Magic of Trump or Just Investors Blinded by a Happy New Year? -ICYMI
Macy’s said Wednesday it will close 68 stores by early spring. Macy’s flagship store in Herald Square in New York City is pictured above circa 1895.
How Donald Trump Could Make Rupert Murdoch Even More Powerful
President-elect Donald Trump may be preparing to give Rupert Murdoch a big reward for the positive coverage Murdoch’s outlets provided during the election. Trump has asked Murdoch to submit the names of possible nominees for Federal Communications Commission chairman, according to a report from New York magazine’s Gabriel Sherman.
Univision wins FCC waiver to allow its Mexican partner, Televisa, to increase ownership stake
The Federal Communications Commission has approved a measure that relaxes foreign ownership rules to enable Grupo Televisa of Mexico to claim a larger stake of the U.S. Spanish-language broadcasting giant Univision Communications. Univision’s chairman, Haim Saban, has been lobbying the FCC for the waiver for more than three years.
China’s Sogou Targets $5 Billion IPO to Chase Rival Baidu
China’s third-biggest search engine expects to hold a U.S. initial public offering at a valuation of as much as $5 billion as it raises cash to close the gap with leader Baidu Inc. in the mobile market. Sogou, whose name means “search dog,” plans to sell about 10 percent of its shares in an IPO that will probably be held this year, Chief Executive Officer Wang Xiaochuan said in an interview.
Apple Turns 40 With Little Fanfare as March to Dow 20K Resumes: ICYMI
Indexes ended Tuesday in the green across the board as Trump continued to nominate advisers to his cabinet and Tweet his heart out sending a handful of stocks into disarray. On Jan. 3, 1977, the Apple Computer Corp. is incorporated.
Heres My Favorite Stock for 2017
My favorite stock for 2017 and beyond that would be a great choice for long-term investors who want growth potential with relatively good stability is entertainment powerhouse Walt Disney Disney’s business performance was magical in fiscal year 2016, ended Oct. 1, with year-over-year revenue increasing 6%, adjusted earnings per share growing 11%, cash provided by operations jumping 21%, and free cash flow soaring 27%. Moreover, these numbers understate the company’s performance because there was one less week in the fiscal year than in the year-ago period.
5 Great Media Stocks for 2017
With the pay-TV landscape continuing to evolve in an over-the-top world, analysts are singling out their top media stocks ahead of the new year. The media and entertainment industry was turbulent in 2016, as the arena for over-the-top services became more crowded than ever and a number of mega-deals were announced or fizzled out.
Apple Has a Lot to Lose if its Favorable Chinese Manufacturing Deals Unravel
A Thursday New York Times report provides fresh arguments. It also shows just how much Apple, and perhaps some other U.S. tech giants dependent on Chinese manufacturing, have to lose if the trade status quo with China is disrupted in a major way.
Bankrupt Hanjin selling Port of Seattle terminal operations
Bankrupt shipper Hanjin is selling its Port of Seattle terminal operations to one of the world’s largest cargo firms. The Seattle Times reports Hanjin Shipping Co.
Hollywood’s Chinese Growth Engine Stalls in 2016
After growing nearly fourfold in the past five years, ticket sales in China are set for only a slight increase this year, bad news for studio profit margins. China’s box office, the engine of growth and safety blanket for Hollywood’s biggest budget films, is starting to show signs of age.
Britney Spears Isn’t Dead: Sony Says Twitter Account Compromised
Sony Music Entertainment apologized to Britney Spears and her fans after its Twitter account was hacked and falsely reported the pop star’s death, just over two years after a major cyber-attack crippled its parent company’s film division. The tweets, which appear to have since been deleted, included “RIP @britneyspears #RIPBritney 1981-2016,” according to USA Today.
Top Bond Manager Woolnough Rebounds With Bullish Call on Economy
Woolnough, whose 15.5 billion pound M&G Optimal Income Fund has beaten 83 percent of peers over the past five years, says low interest rates are working, economies are recovering, and investors have gotten too worked up about macroeconomic risks. He’s so bullish, he started buying equities for the first time in two years, saying they’re more attractive than bonds.
What to Watch: Expect More Boards to Add Activist-Backed Directors in 2017
Look for few large-cap acquisition targets, many small capitalization fights and a lot of insurgent-driven M&A in 2017. In October, the large and influential money manager State Street Global Advisors issued a warning to companies and activists for 2017: Consider very carefully the interests of long-term investors when entering settlements with insurgent funds.
Disney Should Be ‘Heralded’: More Squawk From Jim Cramer
It is ‘very important’ that the story on Disney not be so attached to the success of ESPN, TheStreet’s Jim Cramer said. Shares of Walt Disney were climbing in early morning trading on Monday, after Bank of America/Merrill Lynch added the stock to its U.S.1 list, saying the company is primed to outperform in 2017.
CBS Swallows AMC Networks, Viacom Unloads Paramount and More 2017 Media Predictions
As 2017 comes into view, we offer some media industry predictions at a time when content companies and pay-TV operators are playing musical chairs, hoping not to be left behind. When making predictions, it’s generally safe to say the future is uncertain and change is coming.
Prosecutors: FBI agent leaked info in trading case to media
Federal prosecutors say an FBI agent has acknowledged divulging confidential information to reporters about the investigation into an alleged insider trading scheme. The Las Vegas Review Journal reports that prosecutors in New York told a federal judge by letter Friday that the unnamed agent confessed to be a source for The Wall Street Journal and The New York Times regarding the case involving Las Vegas gambler William “Billy” Walters.