Business groups ask U.S. court to not undo AT&T merger with Time Warner
By Diane Bartz WASHINGTON (Reuters) - The U.S. Chamber of Commerce and other powerful business groups asked an appeals court on Thursday to not undo AT&T Inc's purchase of movie and TV show maker Time Warner, despite the protests of the Justice Department. The chamber, backed by the National Association of Manufacturers, Business Roundtable and others, argued that stopping the merger would 'undermine myriad transactions that generally benefit consumers.' The business groups argued that companies had long assumed that if they bought a supplier or distributor -- generally called a vertical merger -- that the deal would be considered good for the consumer and would be allowed.
By Diane Bartz
WASHINGTON (Reuters) - The U.S. Chamber of Commerce and other powerful business groups asked an appeals court on Thursday to not undo AT&T Inc's
The chamber, backed by the National Association of Manufacturers, Business Roundtable and others, argued that stopping the merger would "undermine myriad transactions that generally benefit consumers."
The business groups argued that companies had long assumed that if they bought a supplier or distributor -- generally called a vertical merger -- that the deal would be considered good for the consumer and would be allowed.
"The vague legal standard that the government ... advocate(s) would cloud the business community’s ability to ascertain whether vertical mergers are lawful, making it more difficult to invest in transactions with enormous potential to lower prices and enhance innovation—all of which benefit a diverse array of customers," the business groups said in a brief court filing.
The Justice Department lost a lawsuit in district court to prevent AT&T, which owns satellite company DirecTV, from buying Time Warner over concerns that AT&T would seek to raise prices when licensing Time Warner's news, sports and other programming to DirecTV's cable and satellite rivals.
AT&T closed the Time Warner deal in June and has said it would manage Time Warner’s Turner cable television networks as part of a separate business unit until February 2019 or the conclusion of the government's appeal to the U.S. Court of Appeals for the District of Columbia.
No date has been set for an oral argument.
The merger, announced in October 2016, was opposed by President Donald Trump. The merged company includes CNN, a frequent target of Trump’s ire.
A group of nine state attorneys general asked the court on Wednesday also to let the lower court stand.
(Reporting by Diane Bartz; Editing by Lisa Shumaker)
This story has not been edited by Firstpost staff and is generated by auto-feed.
ATHENS (Reuters) - Greek police used teargas and water cannon to disperse people who had gathered in central Athens on Saturday to protest against mandatory COVID-19 vaccinations. More than 4,000 people rallied outside the Greek parliament for a third time this month to oppose mandatory inoculations for some workers, such as healthcare and nursing staff.
ISTANBUL (Reuters) - Two Turkish soldiers were killed and two were wounded in an attack on their armoured vehicle in northern Syria, and Turkish forces immediately launched retaliatory fire, Turkey's defence ministry said on Saturday. "Our punitive fire against terrorist positions is continuing," the statement on Twitter on said. It did not specify where the attack occurred, but media reports said it was in the al-Bab area.
By Marcelo Rochabrun SAO PAULO (Reuters) - Protesters took to the streets in several Brazilian cities on Saturday to demand the impeachment of far-right President Jair Bolsonaro, whose popularity has fallen in recent weeks amid corruption scandals against the backdrop of the pandemic. This week, news broke that Brazil's defense ministry told congressional leadership that next year's elections would not take place without amending the country's electronic voting system to include a paper trail of each vote. Bolsonaro has suggested several times without evidence that the current system is prone to fraud, allegations that Brazil's government has denied