Sen. Al Franken (D-Minn.) updated his blog to point out five lessons learned from the failure of the Comcast-Time Warner Cable merger deal. Franken was one of several senators that called on both the Justice Department and the Federal Communications Commission to block the deal.
Last Friday Comcast announced that it was abandoning the $45 billion merger and moving on.
The $45 billion merger deal between Comcast and Time Warner Cable is officially dead. Comcast announced this morning that it would abandon the deal in the face of growing opposition from the Justice Department and the Federal Communications Commission. Because Comcast didn't have a separation agreement, it does not have to pay Time Warner Cable any sort of separation fee.
Bloomberg is reporting that the $45 billion merger between Comcast and Time Warner Cable is dead, according to "people with knowledge of the matter" who spoke to the publication. Because Comcast doesn't have a separation agreement in place with TWC, it won't have to pay out like AT&T did when its merger with T-Mobile was rejected in 2011.
According to this Ars Technica report (citing a Wall Street Journal article), Comcast could very easily walk away from the Time Warner Cable merger deal if it wanted to because it won't have to pay for a "separation fee." And it might have good reason to walk away if the Justice Department and the FCC (s
Bloomberg is reporting that that the Comcast-Time Warner Cable merger will likely be blocked by the Justice Department. The $45.2 billion merger is likely to be opposed because DOJ lawyers believe it will harm consumers. The Federal Communications Commission, who also have the power to reject the deal, are also leaning towards the same conclusion, according to the report.
California has given tentative approval to Comcast's proposed $45.2 billion acquisition of Time Warner Cable, but there are some strings attached, which the company quickly said were too difficult to adhere to. Generally when California's regulatory approves a major merger, the FCC usually follows in the same path.
The approval with conditions came yesterday from Public Utilities Commission Administrative Law Judge Karl Bemesderfer but Comcast Executive VP David Cohen was quick to criticizing the conditions.
Mobile game publisher Kabam has acquired Los Angeles-based studios Magic Pixel Games and TapZen, the company announced today. TapZen and Magic Pixel are best known for their collaboration on the iOS game This Means War. Magic Pixel's credits include iOS titles Outcast Odyssey and Stick to It, and the PS 3 game Carnival Island. TapZen founder and former Zynga chief creative officer Mike Verdu has also joined the company.
In a letter (PDF) to the state Public Service Commission, New York City Public Advocate Letitia James and 21 other state and city officials asked that the approval of the Comcast-Time Warner Cable merger be contingent on the new company providing free Internet to the poor, along with a number of other demands - including a commitment to offer at least gigabit speeds to paying customers.
The Federal Communications Commission (FCC) officially hit the pause buttons on its review of both the Comcast/Time Warner Cable and AT&T/DirecTV mergers. Normally the FCC operates its review under a "180-day informal time clock," but requests for an extensions from multiple companies has forced the agency to extend the normal approval process period.
According to a blurb in Politico's Morning Tech, cable operator Comcast has filed a response to dozens of pages of detailed questions the FCC asked it back in August related to its merger with Time Warner Cable.
A filing by Comcast SVP Kathryn Zachem attempts to answer some of those burning questions which includes information on its subscriber base and regional sports networks it owns.
An earlier response sent in by the company was deemed "insufficient" by the FCC.
Comcast, in its ongoing quest to merge with Time Warner Cable, is trying to convince the FCC that becoming one with one of its rivals won't take away any competition from the market because there's still plenty of other competition out there. Comcast submitted the response to the FCC on September 11, but it wasn’t made public until recently by the FCC due to technical problems with the agency's web site.
Comcast and Time Warner Cable have pulled $132,000 in donations from an event honoring a current FCC commissioner, according to Ars Technica. Earlier this week the news that the donation was being given to the dinner honoring FCC Commissioner Mignon Clyburn set off a firestorm of accusations that the companies who would like to become one giant ISP were trying to buy Clyburn's vote on the proposed merger.
GamesBeat is reporting that Google has reached a deal to buy game-focused streaming service Twitch for $1 billion, according to "sources familiar with the matter." Rumors first surfaced about a possible all cash deal between Google and Twitch worth $1 billion back in May.
Tony Hawk developer Neversoft commemorated its final day this week as the merger with Activision's other wholly-owned studio, Infinity Ward, is completed. Neversoft employees performed ceremonial logo burning, highlighted in a series of pictures and messages posted on Twitter. According to employees on Twitter, studio lead Jole Jewett - who is set to retire - gave staff member custom knives on their final day as Neversoft. Neversoft studio director Scott Pease will also retire.
The American Cable Association (ACA) is publicly opposing AT&T's purchase of DirecTV. The trade group, which represents 850 small cable companies and Internet service providers, says that this and other mergers will make the cost of purchasing programming skyrocket.
AT&T says that it would be happy to expand its broadband fiber infrastructure throughout the country... if the government agencies like the FCC and the Justice Department approve its proposed merger with satellite TV provider DirecTV. AT&T recently name checked 100 municipalities in 21 metropolitan areas where it "might" bring its fiber-to-the-home network, GigaPower service. The company did not say just how many customers might be served under this attentive plan to expand its network. The service offers up to 1Gbps download speeds.
AT&T said yesterday that it would follow the FCC's old net neutrality rules for three years if the government approves its acquisition of DirecTV. It's a miracle. This is despite the fact that the D.C. circuit of the federal Appeals court basically put those rules out to dry, noting that the FCC didn't have the authority to regulate broadband service providers because they are not "common carrier" under Title II of the Telecommunications Act (Verizon v. FCC).
Phoenix-based Najafi Cos. announced that its Toronto-based Cinram Group is expected to close the deal for JAI, the games software division of JVC Americas Corp. The deal is excepted to be complete within 30 days. Financial terms of the deal were not disclosed. JAI provides manufacturing and fulfillment for software and video-game publishers, as well as turnkey solutions for packaging, shipping and inventory management.
Infinity Ward will absorb Neversoft to create one 'super-studio', according to an Activision memo from CEO Eric Hirshberg - obtained by GiantBomb. The wholly owned Activision studios most recently collaborated on Call of Duty: Ghosts, with Infinity Ward creating the main game and Neversoft developing the game's 'Extinction' mode.
Dark Souls and Dark Souls 2 developer From Software has been acquired by Japanese publisher Kadokawa, according to Siliconera. According to the report, Kadokawa will acquire 80 percent of From Software stock in a deal to be finalized on May 21. Financial terms of the deal were not disclosed.
According to this PCR report Nokia will not exist as a brand after Microsoft wraps up its acquisition of the company. According to the report, the Nokia brand name will be dropped by Microsoft once it officially acquires the mobile manufacturer. This is based on a leaked letter sent by Microsoft to suppliers. In it, Microsoft tells suppliers that the Nokia Corporation/Nokia Oyj (Ltd) name will be replaced with Microsoft Mobile Oy.
Posted by Nokiapoweruser.com, the letter reads:
Last week Senator Al Franken (D-Minn.) sent a letter to entertainment streaming service Netflix asking the company to weigh in on the proposed merger between Comcast and Time Warner Cable. This week Netflix gave its opinion... to shareholders.
"If the Comcast and Time Warner Cable merger is approved, the combined company’s footprint will pass over 60 percent of U.S. broadband households," Netflix CEO Reed Hastings wrote in a letter to shareholders, adding, "Comcast could control high-speed broadband to the majority of American homes."
It is likely that Comcast will have no problems getting the support of U.S. lawmakers for its proposed $45.2 billion merger with Time Warner Cable. Why, you ask? Well according to several campaign finance watchdog groups (as reported by Ars Technica), the majority of lawmakers reviewing the merger in hearings have taken campaign contributions from the cable operator directly or indirectly.