Time Warner, AT&T shares fall amid concerns over deal clearance
Wall Street signaled skepticism on Monday that AT&T Inc would secure the government approvals needed to carry out its planned $85.4 billion acquisition of Time Warner Inc , with shares of both companies falling as analysts scrutinized the deal. Time Warner shares were trading some 20 percent below the implied value of AT&T's $107.50 per share cash and stock offer, indicating investor doubts that the companies would be able to complete the transaction. The deal, announced on Saturday, would give AT&T control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted assets and reshape the media landscape.
How AT&T might skirt an FCC review of Time Warner dealAT&T Inc may not have to seek approval from the U.S. Federal Communications Commission for the biggest acquisition announced this year by selling the one television station that Time Warner Inc owns: WPCH-TV in Atlanta. The FCC has broad leeway to block a merger that it deems not to be in the "public interest," while the U.S. Justice Department mainly examines a deal to see whether it breaks antitrust rules by reducing competition. If Time Warner divests its only FCC-regulated broadcast station, that could eliminate a primary reason for the U.S. telecoms regulator to review the takeover, a government official with knowledge of the matter told Reuters.
Former Indians players to handle World Series first pitches
Hollywood A-listers honor comedy prize winner Bill Murray
US comedian Bill Murray is on cloud nine, and it's not just because his beloved hometown baseball team, the Chicago Cubs, are advancing to the World Series for the first time in 71 years. The "Caddyshack" and "Lost in Translation" star got a major salute Sunday from America's top comedians and Hollywood A-listers, who presented him with one of the nation's top comedy awards. The 66-year-old was feted at the John F. Kennedy Center for the Performing Arts in Washington by comedy's finest -- Aziz Ansari, Bill Hader, a fully bearded David Letterman and Jimmy Kimmel.
Police: RV containing pot-laced candy catches fire on bridgePENNSVILLE TOWNSHIP, N.J. (AP) ? Police say a pot advocacy company's RV carrying marijuana-laced candy burst into flames on a bridge that connects New Jersey and Delaware, causing lane closures and tying up traffic for hours.
Jets' Geno Smith has torn ACL in knee, seeking 2nd opinion
The Latest: Trump pledges to stand with law enforcement
NTSB to investigate bus crash that left 13 dead, 31 injured
PALM SPRINGS, Calif. (AP) ? A maintenance crew had slowed down traffic on a California highway through the night, and the work had gone on for hours without problems. Then a tour bus returning to Los Angeles from a casino trip slammed into the back of a semi-truck. Passengers who were asleep on the bus woke up to the sound of crushing metal and screams.
US stocks jump on wave of deals and gains for tech companies
NEW YORK (AP) ? U.S. stocks are higher Monday afternoon following a series of corporate deals. AT&T is falling as investors wonder if its plan to buy Time Warner for $85.4 billion will be approved by regulators. Aerospace company Rockwell Collins agreed to buy B/E Aerospace. Technology companies are making the largest gains while energy companies fall with the price of oil.
Venezuela's embattled president meets pope at Vatican