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asked the FCC to approve their proposed merger

“The bigger picture: At the FCC, T-Mobile and Sprint have to prove that the deal is in the public interest” reports axios.com. T-Mobile and Sprint have formally asked the Federal Communications Commission to approve their proposed merger, according to documents filed Monday and posted Tuesday by the agency.What they’re saying: In their filing, the companies said that the deal would “generate substantial public interest benefits for the customers of T-Mobile and Sprint and for U.S. wireless customers as a whole, and do not give rise to any competitive harms.”. Meanwhile,…

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T-Mobile seeks FCC approval for Sprint deal after AT&T’s antitrust win

“A combined T-Mobile and Sprint will lower costs for consumers and accelerate the development of fifth-generation wireless technology, the companies argued in a request this week for the Federal Communications Commission to approve their merger” reports washingtonexaminer.com. In the filing, Sprint says its share in the mobile wireless service dropped to 13.4 percent in 2016, down from 15.5 percent in 2013. “Sprint’s loss of subscribers has steadily dwindled the base of customers across which it could distribute costs, exacerbating its scale disadvantages compared to larger competitors,” according to the filing.A…

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Fujifilm sues Xerox for $1B+ after Xerox abandoned the planned merger with Fujifilm due to pressure from activist investors Carl Icahn and Darwin Deason

“A merger would have combined Xerox with the 56-year-old joint venture Fujifilm Xerox, in which Fujifilm and Xerox had stakes of 75 percent and 25 percent, respectively” writes Jonathan Stempel for reuters.com. Fujifilm had hoped the merger would deliver at least $1.7 billion of cost savings and $1 billion of new revenue annually.In a complaint filed with the U.S. District Court in Manhattan, Fujifilm accused Xerox of breach of contract and engaging in “intentional and egregious conduct” in abandoning the $6.1 billion merger announced in January.Xerox shares closed down 17…

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AT&T mobile customers will get free TV now that Time Warner merger is complete

“AT&T will be giving unlimited mobile customers free TV now that its mega-merger with Time Warner is done” writes Doreen Christensen for sun-sentinel.com. Randall Stephensen, AT&T’s CEO, said customers will soon get a “very, very skinny bundle” of free TV, after a federal judge approved the $85 billion megamerger of AT&T and Time Warner on June 15. Source: sun-sentinel.com Share This:

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T-Mobile and Sprint to file deal application to FCC as early as Monday

“After announcing the deal in April of this year, T-Mobile US and Sprint plan to formally file an application to merge to the FCC on Monday” writes Bang Olufsen for 9to5mac.com. Are you excited about the potential T-Mobile & Sprint merger?. Reuters believes that the application will focus on two things: prepaid and wholesale customers as both Sprint and T-Mobile have a huge market share in those areas.The application filing to the FCC requests that sensitive corporate information be hidden from public view.As reported by Reuters, the third- and fourth-largest…

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Broadcom lays off 1,100 employees after Brocade merger

“Broadcom said it had laid off about 1,100 employees across its businesses to cut costs after its merger with Brocade” writes Lucas Jackson for cnbc.com. Broadcom said it had incurred $143 million in restructuring charges, primarily employee termination costs, during the first two quarters of its fiscal 2018. The company is expected to pay the majority of its employee termination costs in the third quarter. Source: cnbc.com Share This:

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State fines Charter $2M, threatens to revoke Time Warner approval

“The merger requirements are enforceable only because the company agreed to them, according to Charter” writes Marie J for politico.com. The requirements in the Charter-Time Warner Cable merger were intended to support that goal.That assertion appears to have riled the Cuomo administration, with the PSC suggesting the approval of Charter’s merger could be revoked in its announcement. Source: politico.com Share This:

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Comcast offers $65 billion for Fox as DOJ smackdown opens merger floodgates

“Fox previously agreed to a separate stock-based deal with Disney, originally valued at roughly $66 billion” writes Gene J for washingtonexaminer.com. At stake in either deal are Fox assets including film studio 20th Century Fox, 20th Century Fox Television and the company’s 30 percent stake in Hulu.Fox shareholders were expected to vote on the Disney merger on July 10. Source: washingtonexaminer.com Share This:

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Judge rules in favor of $85 billion AT&T-Time Warner merger

“The lawsuit has now been rejected by a District Court judge, allowing the deal to go ahead without any further conditions” writes Scott Scrivens for androidpolice.com. Donald Trump promised to contest the deal if he was voted into office, and sure enough, the Justice Department sued in an attempt to block the deal on antitrust grounds.AT&T had already stated post-merger plans to split into separate telecom and media entities, but this wasn’t enough to dissuade the government’s legal challenge. This ruling could also pave the way for other similar deals,…

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