Justice Department Gives Green Light To Cingular Merger
Oct 25, 2004, 3:07 PM by (staff)
Cingular today announced that it has reached an agreement with the U.S. Department of Justice that will allow the company's proposed acquisition of AT&T Wireless to proceed on schedule. While the annoucement covers any antitrust concerns, the deal must also win approval from the FCC. The FCC has reportedly agreed on approval internally, and is expected to make an announcement by tomorrow. Cingular officials continue to expect the transaction to close later this quarter.
FCC and Justice Dept. Likely to Approve AT&T-DirecTV Deal
The FCC and Department of Justice are wrapping up their review of AT&T's proposed $49 billion acquisition of DirecTV and don't have any real concerns, according to people familiar with the matter. The agencies may still impose conditions on the deal, but aren't likely to block it, says the Wall Street Journal.
AT&T to Buy Time Warner for $85.4 Billion
AT&T has agreed to purchase Time Warner for $85.4 billion in a stock-and-cash deal that will merge AT&T's delivery networks with Time Warner's vast catalog of content. AT&T believes the combined companies will be able to save $1 billion per year once fully merged.
Justice Dept. Suggests FCC Limit AT&T, Verizon Auction Participation
Officials at the Justice Department are concerned AT&T and Verizon will dominate the upcoming 600MHz auction if more protections aren't put in place by the FCC. The agency filed a letter with the FCC this week suggesting the FCC give more weight to the concerns of companies such as Sprint and T-Mobile, which seek to limit AT&T and Verizon's participation.
Sprint Uninterested In the Uncarrier, Will Abandon Merger
Sprint plans to end its pursuit of T-Mobile. The company and its owner SoftBank have been weighing the idea for nearly a year.
New phones release?
I hope this works out!
I'd like ot say