The DOJ Files an Appeal to Reverse AT&T’s Acquisition of Time Warner; AT&T’s Shares Undervalued
In a surprise move, the Department of Justice has filed an appeal against Judge Leon’s ruling to allow AT&T to acquire Time Warner (now known as WarnerMedia). When the merger was approved, AT&T agreed to keep WarnerMedia separate while the DOJ decided to appeal in order to avoid the DOJ filing for a stay that would have prevented the merger. The DOJ had 60 days to appeal, but when it didn’t within the first week, we assumed it wouldn’t. Judge Leon’s ruling was very thorough, and we think...Twenty-First Century Fox is a media and entertainment company with operations in the following segments: Cable Network Programming, which consists of the production and licensing of programming distributed primarily through cable television systems and others; Television, which consists of the broadcasting of network programming and the operation of power broadcast television stations; Filmed Entertainment, which consists of the production and acquisition of live-action and animated motion pictures for distribution and licensing in all formats in all entertainment media worldwide, and the production and licensing of television programming worldwide; and Other, Corporate and Eliminations.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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