connell: james, what's it telling you, at&t, time warner, comcast. if you look at the stocks, now that we're into after-hours trading, at&t up almost 2%. time warner up about 1%. but the point is they're all higher here, and for after-hours trading, we have very heavy volume for what you would normally anticipate a stock trading in the after hours. what do you make of, that james? they're all up. >> i think they're going to win. it would be shocking if e judge ruled against the companies. you were menging a moment ago, the idea you have to sell to win the case. if the judge goes for the government, it's going to be interesting to read how he got there because the question is cnn so valuable, so demanding by customers they will pay anything for it, it has monopoly power. maybe we're not the people who answer that question, but i think the market -- connell: would any one network be that way? and also -- >> the market is telling you it's not that much. connell: also, if you're the distributor in this case, i think their point and maybe i don't know what

come here ando talk about the at&t time warner merger. talk aboutto at&t-time warner merger. a judge is supposed to act next week on the future of this proposed merger. what is supposed to happen? on tuesday at 4:00, he scheduled a hearing and that is where he said he will announce his decision. there was a six week trial that and place during late march april. , a lot ofbecause judges when they announce the decisions, they will just say, well, we will upload it to the computer system and you guys will have to kind of watch on your own. this time, it is much more theatrical. he will have both parties in there, a lot of the media, and he is going to say, this is what i'm doing. host: used to june -- u.s. district judge leon. explain for us what at&t and time warner are looking to do with this merger. what a first -- when did a first-come about? guest: it cannot quite a long time ago before the election. it came out october 2016 is when he announced the merger. 80 $5 billion deal. at&t has been looking to buy a content company. owns a slew of cable networks. cnn, tbs, hbo. it o

all joining us for this at&t/time warner decision. success ator at&t, all levels, no restraints. e price reaction? has risen and gave back a lot ogames. time warner still holding onto after-hours games. julia: comcast, when do they come in with a bid for fox, and what happened to disney? so -- such excitement in the sector. that is bit for us. this is bloomberg. ♪ emily: i am emily chang in san francisco and this is "bloomberg technology." donald trump's meeting with kim jong-un produced a handshake and a promise to keep talking but was light on details. what does the summit signal for what's to come? plus, is silicon valley still the beating heart of tech investing? we will start to a startup ceo about the next chapter after a high-profile me too departure and their focus on international

it's a big one a federal judge ruling in favor of at&t's $85 billion deal for time warner. 's a huge win for at&t it's a bit of a rebuke for president trump who sought to block the deal let'get to hampton pearson for more >> a stunning victory for at&t late yesterday a federal judge green lighted at&t's takeover of time warner, clearing the way for the $85 billion merger the judge told a packed washington courtroom that the justice department failed to prove its charge that a combined at&t/time warner would lead to higher prices for pay tv subscribers and more leverage for the firm when dealing with competitors. i conclude the government failed to meet its burden of proof, the judge said now after the ruling the government's antitrust chief steered clear of cameras and microphones and this statement from the justice department. we are disappointed with the court's decision we continue to believe that the pay tv market will be less competitive and less innovative as a result of the proposed merger between at&t and time warner for the at&t/time warner legal team victory at the

judge approved at&t's deal to buy time warner fox owns 39% of sky.king at that stock down 1.5% carl, back to you. >> some big moves in media all around thank you very much. >> when we come back a courtas cleared the way for at&t/time warner is a wave of media consolidation ahead and where will it go we will talk to the founder and former ceo of usa networks kay koplovitz with her thoughts. dow up 18. "squawk alley" is back in a moment many small businesses, from kitchens to factories to contractors, rely on their equipment to serve customers every day. when equipment is broken, it means lost revenue. trusted choice independent insurance agents offer special protection that could help replace or repair damaged equipment and provlost business income. they represent multiple insurance companies and customize coverage to help businesses get back to work. announcer: to find an agent, visit trustedchoice.com. comcast,. >>> hi, everybody. i'm sue herera your cnbc news update at this hour white house counselor kellyanne conway telling white house reporters i

the foot >>> weeks before the 2016 election, then candidate trump had strong words about the at&t-time warner dea >> a trkt&t is buying time warn not approve in my administration because it's too much concentration of power in the hands of too few >> and just a few minutes, we'll find out if that deal will be knocked or move forward. what other media companies are impacted by that decision. >>> watching another key decision as well the federal reserve kicking off the two-day policyting, and we'll say what wall restet expects and how it could impact your money when we come back >>> welcome back it's been almost two years, 598 days to be precise, since at&t put out a little press release announcing big intentions to buy time warner worth $85 billion. so why has it taken so long for a decision to come down, and how did the two companies get to this point julia has a walk-through from los angeles. >> the very day at&t announced its plan to acquire time warner, that was october 22, 2016, andtp said he would not approve the deal >> at and t is buying time warner and thus cnn, a deal we will not app

liz: breaking news we'll get right to that $85 billion merger between at&t and time-warner, a federal judge ruling that yes, he will give it the green light. at&t can acquire time-warner those stocks have been rising in trading. it's a decision that will have a lasting effect on the media. let's get right to ed lawrence with the latest at the u.s. district court with the breaking details, edward? >> yeah, this is a huge ruling for at&t. the judge in this case broke down the government's case almost line by line, saying that they did not meet the burden of proof with a number of theories they were trying to put forward one being that limit competitive ness in the marketplace and the department of justice just released a statement i just got it, i'll read it to you. it says we're disappointed with the courts decision today we continue to believe that the pay tv market will be less competitive and less innovative as a result of the pro moused merger between at&t and time-warner and it's interesting the judge went further saying he did not believe the government's witnesses of the economi

at&t operate the pipes that time warner users. d operate the pipes that time warner users. the judge agreed with at&t and time warner which will allow the company to create a media giant that they hope will better compete with they hope will better compete with the likes of google. already other mergers are being looked. 21st century fox and either disney or another major company. judge richard leon said the us government he hopes would appealed his ruling. it could fundamentally alter the us landscape the decades to come. shares in chinese telecoms equipment maker zte plunged by 39% as the company resumed trading after it reached a settlement with the united states over its handling of a sanctions violation. let's go to our asia business hub where rico hizon is following the story. nice to see you. zte shares dropping like a stone? absolutely and that has wiped out about 3 billion us dollars off its market value as it resumed trading on the hong kong stock exchange after it agreed to pay up stock exchange after it agreed to pay up

at&t and time warner could go through. a lot of media issues and stos are waiting in t gates. there will be a race for who is first, who could be the biggest. we'll see, couple hours from now, trish regan. hey there, trish. trish: breaking now, trump is back to the united states agreeing to complet denuclearization as two leaders embark on new face of diplomacy. trish: i'm trish requiring began welcome to "the intelligence report". historic moment, the leader of the free world, and the infamous north korean dictator, talking together. face-to-face. for nearly five hours. despite past challenges, there is potential to change the course of history, for new, vibrant, and peaceful future. watch. >> yesterday's conflict does not have to be tomorrow's war. and as history has proven over and over again, adversaries indeed can become friend. we're prepared to start a new histor we're ready to write new chapter between our nations. >> new chapter. we've got this covered for the entire hour. we'll talk about what the new chapter will look like, what the potential is, and what it will ac

he's in favor of the at&t-time-warner merger giving them the do-ahead for at&t to buy time-warner herethe interesting thing is he had the option to put conditions on this. so the fact the jud said green light all the way, go ahead, no conditions shows just how much he bought at&t and time-warner's case. there's a wild card here. the dog people that have been following this trial very, very closely have said that they would not be sprised if the dog tried to appeal this decision. this merger is not set to take into effect until later this month in june. so they have some time. the judge preempting that. he said is national security a good idea for the government to bring this issue up again. he doesn't think there's enough there. we'll see if the doj tries to pull a fast move here and try to appeal this decision. for now, at&t and time-warner have the green light. you're seeing the ripple effect across other potential media deals that are waiting in the wings. you have comcast stock up, time-warner symptom. positive effects rippling across the board. deals that could be waiting on the w

shares are mixed ahead of the long-awaited at&t-time warner ruling. faring, we go live to the courthouse next. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers ly ocomcast business to delivstent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. edit on the end in london. >> welcome to bloomberg market -- markets. >> here of a top stories we are -- you are the top stories we are covering around the world -- here are the top stories we're covering around the world. jay powell keeping a close eye on inflation. the $85ment day, billion question get center when the judge rules on whether at&t can buy time warner . let's check up on markets with julie hyman. >> still, relatively mild here in the wake of the events in singapore. the dow just taking lower. t

diana moss, do you agree with the legal arguments in the at&t time warner case? diana: i cannot disagree more. is a poorly framed opinion. it is obviously a big loss for the government. we disagree on a number of grounds, including rejection of the government's theory. it is a very fact

do you agree with judge leon's legal arguments in the at&t time warner merger case? why or why not? >> could not disagree more. we think this is a poorly signed an opinion. a bigoss for the government. we disagree on a number of grounds including the rejection of the government's theory. it's the very fact specific, factored in case and raises any number of issues regarding how can i trust cases are litigated in the important issues are. i'm the same time it's an isolated case. not going to settle a precedent for other cases. we don't see a whole lot of implications drawbacks. >> host: what is the drawback do you think is valid? is still in a vertical meer would think about about horizontal mergers which eliminate head-to-head rivals. it pairs up in posted distribution. tearing up content with distribution, video distribution. vertical mergers can still have horizontal effects and market. in this case the governments concerned was that because of at&t's market power combined with time warner, the company would have enhanced incentives after the merger to make it difficult for rival

in this case, the government's concern was because of at&t's market power combined with time warner, the company would have enhanced incentives after the merger to make it difficult for rival distributors, whether cable distributors for direct broadcast satellite distributors to get time warner content and i would make it more difficult to compete and potentially raise prices to consumers. it would hamper or hamstring competition. the judge reject the god on the basis of the government theory of harm that the company would have more bargaining leverage with their rival distributors after the merger and his findings on reject them first-hand evidence from participants in the market and reject inserted the economic model that the government's expert witness put forward. josh wright from george mason university global antitrust in the two, what you think of judge leon's legal arguments. >> there is some portions i agree with, but let me sort of started the high-level, which is i think the right way to think about the case is one that is not about theories of harm, not about the state of

. >> when we come back, what a week in media is ahead of us at&t, time warner prepared to learn their. merger decision, we think, will come tomorrow. ricoh's kara swisher is here to talk with us about that. it'll talk to the fcc chairman aj pai dow is down ten. squawk alley back in a moment. >>> we will speak to fcc chairman ajit pai shortly. tomorrow, one man might change the future of media, as we know it senior judge richard leon for the district of columbia will decide whether to approve at&t's billion dollar acquisition of time warner. and rico's co-founder and editor kara is with us. thanks for being here. >> on set. >> on set. here i am. >> landscape for m & a when it comes to mia a technology is shifting either way, what's the impac this at&t/time warner decision going to be on what we see over the next three to five years >> it will probably go at&t's decision everybody thinks that. it depends on the rules that the swrunlg puts in place around it, if at all. once it rules in their favor, which most people feel would be a shock if it didn't more smchlt & a. everybody needs to

you've already put at&t and time-warner through a lot it's a waste of time and money. charlie: well that's the whole thing that's what he did, but, they don't work for judge leon. they work for nominally, donald trump and -- liz: and he doesn't like this merger. charlie: and they don't like this merger and they don't like comcast and they don't want comcast to get any bigger so all i'm saying is this. this can go on until sunday night i understand. if you see the doj appealing this decision, i'm telling you, it throws a monkey wrench into the bidding war that could go on for our assets and other assets. this is a big big thing if this happens. liz: indeed but now let's get to the actual three players. bob iger of disney, rupert murdoch of 21st century fox, and brian roberts so to me it looks like bob iger has to somehow with this deal. charlie: as we reported a couple weeks ago, 21st century fox is going to entertain any higher bid. they almost have to and people thought they always wanted to go with disney which maybe they did culturally but this is a lot of money and

. >> peter: do you agree with the at&t-time warner case, why or why not? -- : we think this is a this is a poorly framed opinion. it's obviously a big loss for the government. we disagree on a number of grounds, including the rejection, the judge's rejection of the government's theory. it's a very fact-specific, fact-driven case, and it raises any number of issues regarding how antitrust cases are litigated and what the important competition issues are and what the important consumer issues are. at the same time, we think it's a pretty isolated case. it's not going to set a lot of precedent for other cases. it's one district court judge's decision. other judges are not bound by that, so we don't see a whole lot of implications, drawbacks for future merger enforcement. peter: what is the government theory that he rejected that you think is valid? diana: yeah. so in a vertical merger, it's interesting because we think a lot about horizontal mergers which eliminates head-to-head rivals. vertical is different. it pairs up input with distribution. it's pairing

judge richard leon scheduled to rule on the justice department's challenge to at&t's purchase of time warner. now the government claims the $85 billion deal would hurt consumers, and at&t says no, we need the content to compete with tech titans like netflix and amazon. edward lawrence and charlie gasparino will join us to put it all in perspective. that decision less than an hour away. as we wait to see how that plays out, the world continues to digest the outcome of the historic summit between president trump and north korean leader kim jong-un in singapore. certainly a quest for a nuke-free korean peninsula. that's the aim as they plan to stop military maneuvers in the region. hillary vaughn will have the latest on the white house and n explain what's next for all of this? >>> as for the market's reaction, seeing one late sell-off late in the session. not much. down 72 points on the dow as it slides near session lows. the nasdaq fighting for a chance for yet another record finish. we are less than an hour to the closing bell. indeed, i'm ashley webster in for liz claman. let's begin this "

judge in this case, the federal district court judge has essentially approved this mr between at&t and time warneron of time warner. i just got out of the courtroom. judge richard leon for 30 minutes read his opinion and at the end of it, he said that basically the government's three theories of harm, all three theories, they -- they did not meet their burden of proof to show there would be a substantial lessening of kmet kp -- of competition if at&t acquired time warner. this is a six-week trial and the judge ruling today this merger can, in fact, go forward. and this is a complete and total win for at&t. and what could happen at this point forward is that the government -- after losing in this case -- they could ask for a stay of the opinion as they go and what is important about that is that could affectively render this deal dead. this deal would have to go through by june 21st. that is the merger dead line set by b at&t and time warner that -- at which point either party, either company could walk away. so at the end of the ruling here, after the judge said that the government has failed to p

a judge approve everything the bid of at&t to acquire time warner >> this is really a victory for at&t rejecting the bid to block the acquition of time warner judge leon also not seeking a stay on the deal it is set to close on or before june 20th. we are reading through the judge's decision right now it points to the threat is that the tech giants pose to at&t to explain why it is not competitive, they're saying vertically integrated companies have provided affordable on-demand content. and facebook and google have ways to create effective and lucrative advertisements specific to the consumer, anti-trust chief saying that "we continue to believe that the competitive and innovative, we will closely review the court's opinion and consider our next temperatures based on the dramatic moves of the media stocks and after hours trading, there is no question that this decision opens the flood gates for more deals, next up, comcast will make a deal for fox as early as tomorrow >> let's talk here about what rich greenfield said about other people in play >> yeah, twitter bounced, it got added

but at&t and time warner still plai plan to come together. they are saying this time next week the deal will take effect. and that means cnn and other time warner channels will be owned by at&t within the coming week. an then town halls and announcents and things like that tong the companies together. if there is an appeals process and eventually the government comes out ahead, it is hard to unscramble eggs but it would be an attempt to bring the companies back apart but at&t is moving forward with the belief this is a clear win in court and i'm told that at&t and ceo raall stevenson who was watching this from the headquarters in dallas, this is a crowning achievement for him. he's been trying to get this done for almost two years because he believes at&t needs to compete with facebook, with netflix, with google, as jeffrey was just saying. i think this announcement by the judge lends more credence to the suspicion that somehow, some way president trump had something to do with the doj action here. this was a strange move by the doj to try to

we will take a look at the upcoming court decision we expect this coming week on the at&t-time warner merger and what it will mean for consumers. we will be right back. >> sunday on q&a, new york times his book talks about "to change the church." >> he thinks the church needs to change in various ways, particularly i think around issues related to the sexual revolution, marriage, divorce, and so on. where prior popes basically said, these are changes the church cannot make. there have been the sort of fraud places in his pontificate where he has clashed with cardinals and bishops and theologians over just how far he can push the church to change, what the church can change without either undercutting its own traditions or breaking face with the new testament, the gospel, jesus christ. >> q&a, sunday night at 8:00 eastern on c-span. >> next week, live coverage from the u.s.-north korea summit between president donald trump and north korean leader kim jong-un starting monday night. join "washington journal" for analysis and comments. watch live on c-span and c-span.org or listen using t

at&t time warner call for consumers will go down. if they do go up, it will be a matter of more per month. if the deal goes ahead it could open the door to other large mergers such as cvs and eight that. and comcast as it is trying to make a formal offer for 21st century fox. >>> toys "r" us are entering the final days of liquidation sales and up. ranging from 50 to 70% off. many in demand items such as nintendo and playstation game consoles have already been snapped up but there's still plenty of lego sets and board games and barbie dolls and star wars toys. prices are beating amazon, walmart and target. >> we tried ours and it is locked down, done. >> thank you. i mean, stores locked and everything. >> oh, done. done done. we're not done. 4:43 right now. coming up on "today in the bay," kari is track the forecast for us. >> great day in spots like san jose as you leave the city and head up to oakland. we're going to have cool temperatures to start in evergreen. mid-60s reaching in the upper 80s by early afternoon and you'll want to

adc court gives an emphatic green light to at&t by time warner. what deals are waiting in the shery: the federal reserve tells us at 2:00 this afternoon, what it has decided over its meetings. markets are certain, policymakers will announce a rate hike. the bigger question -- what comes next? insight, our bloomberg intelligence strategist, great to have you in new york. today,nknowns, how exciting is a going to be for the treasury market? >> the treasury market maybe not so much but for the future of policy, it will be interesting. there are a lot of potential gsn annnce. a press conference at every meeting. probably that interest paid on excess reserves is not going to be raised as much today as target range, there are technicalities going on in the market now. we have also got a hint that maybe what the terminal rate will be. when will the fed stop? you have policymakers saying we are close to neutral rate. when we get te neutral, h gh is it willing to go a if they do, how far? there are potential questions that can be asked. will jay powell ans

time. >>> megamergers on the horizon at&t cleared to buy time warner. what will the federal government decision mean? >> and the bidding war for fox the latest details but what we can expect to learn today. >> and a big fed decision this afternoon. what investors need to know ahead of the annt. >>> we start off, of course, with yesterday's decision. not unexpected, certainly, for those in the courtroom durg the actual course of the trial itself but as the days and weeks have stretched on, waiting for judge leon to deliver. certainly there were those that thought maybe the government does have a chance including the guy to the right of me there. >> boy, i was wrong. >> that was not the case 172-page decisn judge leon, jim, made it clear how he feels about the government's case and seemed to indicate why did you bother to bring it and we'll talk about what it means, but that will clear the path for comcast more on that in a moment but big day for at&t let's not forget that. they'll be able to complete the time warner deal let's call it next week. they sai

this is similar to the at&t-time warner deal to a distributor looking to buy content, and that led, in some cases, potentially create regulatory concerns. as we have just seen, the at&t deal goes through, so maybe it has given fox investors pause about the comcast offer, maybe they have more confidence. emily: do you think regulators emily: do you think regulators would favor one deal over the other? >> i think it's a tough call to make. obviously, at&t and time warner was a vertical deal. but the fact that comcast has nbc, there are horizontal and vertical factors that could complicate things. i think they are clear they are willing to divest things, including hulu, and try to get this push through. emily: what do you think disney's move will be next? i believe the clock doesn't start ticking for another five days. what happens then? >> disney would have five days to come up with a new offer. if you think about what disney has said, they are looking to really take on netflix. they are very much staking their future on building a direct to consumer service, and i think they look at the

the judge said failed to prove the merger could cause competitive harm shares in time warner jumped in extended trade, at&t moved lower. volume has been unusually high 13 million time warner shares and 21 million at&t shares traded after hours as well the decision is expected to have an impact on a number of deals including the battle for 21st century fox. shares in sky, which is at the center of that bidding war, are under pressure this morning as mcast, the parent company of nbc and this network is expected to formalize a bid for fox assets today for more on the doj ruling and its wide-ranging implications, head to cnbc.com before we head out a look at u.s. futures we have the fomc coming up all eyes on the dots a they're very much expected to be a hike. dow opening up aut 12 points lower. nasdaq about 1 point higher. lackluster as far as markets are concerned. that's it for today's show in a cnbc exclusive, steve sedgwick will be speaking with prime minister theresa may later toy. da >>> it is 5:00 a.m here are your top five at 5:00 a judge okaying at&t's $85 billion takeover of time warner. is a huge n

market will be less competitive and les innovative as a result of the propod merger between at&t and time warner and the at&t legal team basically plead with the stunning legal victory. >> we're up to 600 days since the merger was announced backn october of 2016. and that it unfair to the defendants, to the hundreds thousands of employees and their companies whose lives have been hanging in the balance and to hoall of the shaers and all of the other constituents of these great companies. it is time to comete this transaction and move on. >> reporter: now the judge put no conditions on thaerger going forward. he also urged the government to think twice about any possible further delays like maybe seeking a stay. at this point, the deal is now set to close before june 21st. bill, back to you. >> hamilton pierson in washington. thanks very much. >>> so what does thisan decisio or future mergers? joining us tonight is erik gordon from the ross school of siness. good to see you again. welcome back. >> hello, bill. >> it is widely believed this kind of a decision could bring on other mergers to get pa

diana moss, do you agree with the legal arguments in the at&t time warner case? diana: i cannot disagree more. is a poorly framed opinion. it is obviously a big loss for the government. we disagree on a number of grounds, including rejection of the government's theory. it is a very fact pacific, fact driven case. it raises any number of issues on how these cases are litigated and what the important consumer issues are. at the same time, we think it is a very isolated case. not a lot of accidents for other cases. it is one court decision. other judges are not bound by that. we do not see a lot of implications drawbacks for future merger enforcement. that: what is the theory you think he rejected? diana: we think about horizontal mergers with head-to-head mergers. it pairs of inputs with distribution. pairing of content with his generation. mergers, even though they put together, mentoring assets, they can still have horizontal effects in markets. the government's concern was that because of at&t's market with time warner, they would have enhanced incentives to mak

as some of the knock-on effects of that at&t/time warner deal being approved and what that means for other companies in that sector as well. >>> theresa may survived the remaining challenges to her eu withdrawal bill after mps voted to back the government against several amendments the british prime minister narrowly avoided defeat on tuesday after she struck a deal promising concessions on an amendments aiming at giving a vote on a brexit agreement reports suggest downing street is not willing to discuss key aspects which could put may on another collision course with party rebels steve joins me now you had a busy day yesterday at downing street >> i did >> you were in maggie thatcher's living room? >> her old study a large pore tral of ttrait of t lady herself looking down on me. >> talking about this withdrawal vote you tried to get more concrete answers out of the prime minister yesterday as to whether or not the parliament will have a final say on the brexit vote what did she tell you? >> the prime minister is under pressure from europe, of course, from her own party, from the o

some thing else happening that rulebig deal, a judge will on at&t and time warner, whether or not t mergerould go through and we see at&t up about .3% and time warner down about .8%. yes, it can go through, no, or perhaps yes with conditions. there are a ton of deals waiting in the wings that depend on the ruling. looking at the consumer discretionary space here, we can see the space overall up just modestly but hardware up 27%. of 1%, andshortage also sharply higher, a short interest there as well, entire loss than expected. sales were moving in the right direction. of 6.4% as the company has announced an expanded tire agreement with seals -- with sears. vonnie: thank you. on one of the developed world's most influential investors planning for individual invs in the cayman i as eaweek. at one point, they managed almost 14 billion dollars worth of assets. it was based in to buy. it would allow them to re and negotiate with creditors and sell assets, according to people familiar. caroline: how the mighty fall. on the european market, 90 minutes until the close of trading. just shrugging off

time. david: at&t got its answer. it gets to buy time warner after all. the federal district judge is a 172-page opinion. there was not much ambiguity to it. we had a very happy at&t general counsel that talk on camera. >> on behalf of everyone at at&t and time warner, we are gratified with the court's decision to categorically reject the government's bid to block this historic merger. david: categorically is the word. if you look at the decision, there was no ambiguity. the government got nothing. i think it isnteresting. it is telling for the market and the broader mergers and acquisition landscape. on of the big frustrations last year is we did not get a bigger accelerationn a. warner.t just at&t-time it was across the media and communications and technology ndscape. inyou get an acceleration m&a activity on the heels of this, you will see a broader enthusiasm developed for the market, particularly those sectors that see vast potential for increased activity. david: there is risk here. , if you end up having a lot of m&a act that gets finance, that coul

t. time warner is decision this week by a federal judge who ruled that the mega merger could go forward comcast has offered a sixty five billion dollars deal all cash for twenty first century fox the bid set up a fight with the walt disney company which also seeks to acquire fox here to take it all on as conservative t.v. radio host steve malzberg and lionel lionel media thanks to both of you for being with us at the end of this week steve the media landscape is changing in a way we have never seen what does it mean for businesses and for consumers. well you know i think the decision in the time warner eighty and t.k. said the judge just summarily dismissed every single argument that the department of justice had and i think it speaks volumes we're in such an ever changing constantly changing media landscape that this that that particular merger and others that are might follow are really a battle for those companies to grow and survive not to monopolize i mean you could who really sits in front of the t.v. that much anymore you tube has a billion viewing hours a month you have facebook

the "wall street journal" reports the at&t/time-warner merger hangs on a judge's decision.n, d.c., district judge richard leon will make a decision this afternoon on the $185 million mega deal. the justice department is trying to block it. at&t wants to acquire all of time-warner's assets including hbo, warner bros., and turner broadcasting, with all of its cable networks. >>> "usa today" reports robert de niro's harsh words about president trump continued as he apologized to canada for mr. trump's behavior at the g7 summit. >> i want to make an apology for the idiotic behavior of my president. [ applause ] it's a disgrace, and i apologize to justin trudeau, too, and the other people at the g7. it's disgusting. [ cheers ] >> he made the comments yesterday at a groundbreaking for a hotel in toronto. on sunday, de niro launched an expletive at mr. trump during the tony awards. it was censored by cbs. president trump called canadian prime minister justin trudeau dishonest and weak following the g7 summit. >>> the hill says the supreme court ruled in favor of ohio's voter purge

media companies bracing themselves as a verdict looms in the at&t/time warner trial. in following the trial from l.a. julia? >> reporter: district court judge promised a ruling tuesday at 4:00 p.m. on the department of justice's suit to block at&t's acquisition of time warner. this follows six week trial an another six weeks of the judge's deliberation. analysts greg move fet saying that wall street says that at&t has an 80% chance of winning, though the outcome is still more of a coin flip and a lot says on what the judge says in the nuance of the verdict. if at&t wins with no conditions, that's a huge relief to take a and time warner ahead of their june 21st deadline to complete the deal. a win would prompt comcast to make its formal offer for fox's assets and it could kick off further consolidation in the media space. with an at&t win, also comes the possibility of a doj appeal and we'll have to see her a judge grants a stay to prevent the merger from going forward. that could cripple the company's commitment to the deal. a ruling against the merger would not only k

but still, if at&t gets through, judge leon says that type of structure -- at&t/time warner, which isell, that's going to 'em worlden brian roberts -- embolden brian roberts. the other issue is there are obviously tax implications, right? liz: you paid your tax on an all-cash bid. >> i've been told don't -- it might not matter as much as you think because he could sort of structure the bid in a way that limits the -- liz: let's put a date on this. july 10th is the shareholder vote for both diss and 31st century fox shareholders. it's going to be at the new york hilton, so this is right up the street. this is going to be a big deal, and that's where shareholders vote yea or nay. >> well, i mean, that doesn't -- i don't think that supersedes a hostile bid. now, this thing could be hering up next week. for all i know the federal district judge that's ruling on at&t/time warner, which that is kind of the precedent that brian roberts is looking at this bid so he can get bigger, that decision could come next week. i'm wondering, i've asked around might he bid anyway, put his bid in official

. >>> also from the at&t mega merger from time warner, a look at this week'sme develos in tech. >>> plus a new book on fateful meeting convened by robert f. kennedy more than 50 years ago and how that conversation continues today. ndello welcome to "kqed newsroom." i'm thuy vu. we begin with the new mayor elect london breed. san francisco waited as votes for counted in tight race for mayor. either of the t topwo candidates promised to be a first for the mark leno would be the first openly gay mayor. while london breed would be the first african-american woman to lead the city. finally on wednesday morning he conceded to breed. the new mayor elect grew up in the western addition neighborhood and was first elected to the boardce of offs in 2012. she sat down with editor scott schafer. >> thanks for ofming in. >>course. >> when you walked through the doors of city sll and yd my name is london london breed, what went through your mind? >> ilicouldn't bee it to tell you the truth. it almostelt like a dream. it's amazing and i'm excited to be here. >> you did a llout to your grandmother, ms. b

market will be less competitive and less innovative as a result of the proposed merger between at&t and time warner. they have a decision to make if it wants to defy the judge in the appeal. back to you. kristina: shares of at&t fell after hours or time warner is up more than 4%. twenty-first century thought is the focus between comcast and walt disney jumped ty-first century fox and is also the parent of fox business network. cheryl: president trump warning justin trudeau made a mistake that will cost this country a lot of money. >> i have a good relationship with justin trudeau other than he had a news conference because he assumed i was in an airplane and i wasn't watching. he learned it will cost a lot of money for the people of canada. you can't do that. train to the president has 20 televisions it turns out on air force one. the g7 summit over the weekend. white house trade at rice or peter navarro after he said there was a quote from a special place in for any foreign lr that engages in bad state diplomac >> i use language that was inappropriate, basically lost the power of the message. i ow

literally on the heels of the approval of the at&t-time warner merger there are some departures. r ceo jeff bewkes, it is being reported from dow jones, he will leave at&t after a brief transition. jeff bewkes kest out of a job. turner chief john martin, martin will leave after the at&t acquisition goes through. right now you have jeff bewkes and john martin out after a brief transition from this merger of at&t and too many warner. time warner stock moving slightly higher but dow jones industrials, sorry, now they're lower? markets are all lower, not, not at&t. we're looking with the dow down 110. nasdaq is straddling the line, down 16. go to the new york stock exchange and nicole petallides, big news about those two, right? >> we writ wag originally for the judge to decide on the big move of at&t and time warner. now the changing of the guard. what happened for the week, dow and s&p to the downside. nasdaq gaining. telecom, health care helped it along. laggards for the dow jones industrial average, general electric. that has been a loser this week. caterpillar, boeing, exxon, amo

tomorrow, at&t/time warner closes possible and we get t china's tariffs announce. we'll have a ver busy night tomorrow night. >> you won't want to miss it. so please join us. >>> that's does it for tonight. >> have a wonderful evening in the l antime. we we you to. >> this is "bbc world news america."is >> funding of resentation is made possible by the freeman foundation, kovler foundation, pg solutions for america's glected needs, d purepoint financial. >> howo we shape our tomorrow? it starts with vision. we see its ideal form in our mind, and then we begin to chisel. we strip away everything that eal newin the way to r possibilities. at purepoint financial, we have designed our modern approach to banking around you -- your plans, your goals, yo

just moments ago we learned new developments on the at&t-time warner merger, 85 billion-dollar merger got okay. latest in at&t memo, time warner ceo jeff bewkes will plan to leave after a brief transition. it is also worth noting that he did testify that he believed, he would be terminated without cause an should the merger go through, that he believed at&t executive john sankey would take over his duties at new company. we'll see what develops with that. at the same time turner chief john martin is leaving after this at&t acquisition. so the new company has a new name. it will be renamed warner media. taking a look at the major market averages, the dow was down 280 points. it finished down 85. it is down for the week. s&p and nasdaq came under pressure t was all about trade tensions. first we impose tariffs. then the chinese were going to impose them right back. for the week, the dow is down 1%. s&p, you saw the fractional gain, thought it would be down for the week but squeezed out a gain. chevron, ge, boeing, among laggards. no doubt names related to industrials and tariffs are one

this the reason they made the offer now is because of the at&t-time warner decision.re sayg in this letter that gave them the green light to go ahead with. this also they're offering a $2.5 billion reverse termination fee, which is the same fee that was offered by disney, they're also offering to reimburse twenty-first century fox for a $1.5 billion breakup fee in all of this. so a lot money being put on the table here in order to sweeten the pot for the assets of twenty-first century fox or part of the assets of twenty-first century fox once the new fox has been spun off. connell: melissa? melissa: after the success of tuesday's summit in singapore, the president is back at the white house while secretary of state mike pompeo is in south korea negotiating the next steps towards denuclearizing the korean peninsula. hillary vaughn is live at the white house with the latest on this. hillary? reporter: melissa, secretary of state mike pompeo saying today in south korea he is go be the accountable for the deal that president trump reached with north korea's leader kim jon

time-warner has good stuff. trying to merge with at&t. cbs is considered good there's not a ton of it. so there's a scarcity value and a need to expand as traditional capable looks to compete against the technology companies. they believe by merging with content, they're better able to compete. we'll see. there's some regulatory concern on this, even with this deal going through. i'll say this though, if you watch fox business and you traded after my report at 3:45, you made a few bucks. >> not that people would be so selfishly -- >> they should be. that's what i'm here for. >> neil:ov money. thank you very much. just toollow up what charlie said here, some of the other affected stocks -- i apologize for showing you th -- but disney fhed up about 2% today. after hours, down .5%. comcast wasn't moving much despite this is down .5%. as we speak, the lady at the dance is getting all the attention right now. that is 21st century fox is up even more after hours here as the run-up continues. across the media spectrum with fast opportunities on

t. time warner is decision this week by a federal judge who ruled that the mega merger could go forward comcast has offered a sixty five billion dollars deal all cash for twenty first century fox the big set up a fight with the walt disney company which also seeks to acquire fox here to take it all on its conservative t.v. radio host steve malzberg and lionel lionel media thanks to both of you for being with us at the end of this week steve the media landscape is changing in a way we have never seen what does it mean for businesses and for consumers. you know i think the decision in the time warner eighty and t.k. said the judge just summarily dismissed every single argument that the department of justice had and i think it speaks volumes we're in such an ever changing constantly changing media landscape that this that that particular merger and others that are might follow are really a battle for those companies to grow and survive not to monopolize i mean you could who really sits in front of the t.v. that much anymore you tube has a billion viewing hours a month you have facebook and

whether it is cbs or at&t time warner, all of these mergers have enormous vertical implications. it is against that backdrop that we are concerned about the plight of competition and consumers as a result of these decisions. i think it is notable that judge leon do notge provide a landscape on facts and economic models, and evidence. did not provide any landscape against which this merger would be evaluated. not once did we hear the term market structure. do we have big powerful players with big market shares? nor did we hear market power mentioned once in the complaint. i'm sorry, in the opinion. there is an important table setting that did not occur, that would have given the american consumer the ability to understand the importance of antitrust enforcement and this particular merger. oft: what about his analysis mppd's hulu and netflix and where the competition is going. diana: that is a really good question. echoes to how the court or the government in the complaint evaluated the market. we call it the relevant market. the potential harms that would occur. the judge accepted

brian roberts and comcast believes as well, time warner said no, they sold the at&t. murdoch said no and is selling his assets as well. julia: the all stock offer we have from disney, what does disney do now? here,the premium you see it covers the tax leakage that the murdochs will have in a cash for assets deal. disney i suspect will raise its price. you will go to $35 per share but i think they will play up thathey believed they had a quicker time to close than comcast would have. i think they will play up the fromthat pro forma cpa disney and fox is a better collection of assets. joe: can y explain why the i think the regulatory is going to be massive for both of these companies. i think they feel like they might be earlier but at the end of the date the are going to play up the fact that they have pro forma. rupert murdoch has indicated that he feels more comfortable owning the disney paper than the cash that would come from comcast. whether comcast amends its bid that will be eligible fothe murdochs, will s. the is the early innings of saga that will play out. ju

at&t, time-warner, 21th century fox all higher on the news. the doj said itould like costs for customers. but the judge didn't buy it. time-warner says the real people who have been hit are the workers who have been caught in o while thi case is ongoing. the doj could decide to appeal the judge's ruling. but the judge had a sharp warning for the government saying to use the state to accomplish indirectly what c not be done directly when it will cause irreparable harm to the defendants would undermine our system of justice, millions of shareholders, and the business community at large. the judge is trying to preempt any motion the doj might file as a last-ditch effort to stop this merger from going through. charles: does it feel like all system go? overwhelmingly most of experts thought this w be the ruling. many people scratched their heads at the government bringing this in the first place. specially with the way they have gone about it. reporter: we just heard from time-warner's lawyer team. they said they are ready for this merger to take pl