Apple didn't disclose details of its planned buy of music ID company Shazam but said in an email Monday it's "thrilled that Shazam and its talented team will be joining Apple." Shazam consistently ranked as one of the most popular apps for iOS and is used by "hundreds of millions" of people, said the Apple statement. Apple Music and Shazam "are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users," it said. The acquisition is pending approval, said the company.
U.S. District Judge Richard Leon's scheduling of biweekly status conferences on DOJ's lawsuit to block AT&T's buy of Time Warner suggests he's encouraging a settlement before the March 19 trial date (see 1712070067), Raymond James analyst Frank Louthan wrote investors Friday. He said settlement seems unlikely, expecting a May ruling.
Nexstar will buy video advertising infrastructure company LKQD Technologies for “approximately $90 million cash,” Nexstar announced Thursday. LKQD’s video advertising platform has “the largest reach in the US to viewers across digital devices,” about 115 million U.S. online video viewers over desktops, “mobile-web, mobile-app and connected TVs,” Nexstar said, letting the TV station owner's ad clients target customers. The deal is expected to close late in 2017 or Q1 2018.
DOJ's lawsuit seeking to block AT&T's buy of Time Warner is scheduled for a March 19 bench trial, U.S. District Judge Richard Leon of the District of Columbia said in a minute entry (in Pacer) Thursday. AT&T had sought Feb. 20 (see 1712060034). In a statement, the company said it "understand[s] and appreciate[s] how busy the Court is, and ... will promptly discuss the Court’s post-trial schedule with Time Warner. We are committed to this transaction and look forward to presenting our case in March.”
Britain's Competition and Markets Authority will provide notice of its provisional findings and possible remedies in Fox's proposed buy of Sky in mid-January, instead of later this month, it said in an administrative timetable update Wednesday. It said the final report will be sent to the secretary of state for culture, media and sport in February or March; the agency's statutory deadline is March 6. The secretary referred the merger to CMA in September for a full six-month investigation.
Sinclair's buying Tribune is "a historic opportunity to advance minority ownership and diversity,” said minority-owned broadcaster Howard Stirk Holdings in a letter posted Wednesday in FCC docket 17-179. Howard Stirk is affiliated with Sinclair and has sharing arrangements with the broadcaster. Divestitures from the deal that may be required by DOJ or the FCC could provide ownership opportunities for prospective minority owners, the smaller company said. “It is critically important, however, that the Commission appreciate this unique opportunity and make clear that it would expeditiously review for approval any spin-off assignment to a minority owned entity.” Shared service agreements and joint sales agreements help minority broadcasters get access to capital, the filing said: The FCC “should do all it can” to insure the deal happens and “remove any impediments which might derail this."
FCC Chairman Ajit Pai is making it easier for "giant telecom companies to get bigger and even more powerful," Sen. Elizabeth Warren, D-Mass., said at an Open Markets Institute panel Wednesday. Warren condemned Pai's proposed rollback of net neutrality rules (see 1712060058) as "another example of how the Trump administration is tilting the playing field toward big corporations." Warren criticized AT&T buying Time Warner and Sinclair/Tribune as harmful by locking up competition that could create choice and lower prices. She praised DOJ for seeking to block AT&T/TW (see 1711210005) but worried the move is politically motivated. "It's essential that the courts and public approach this case like any other, and not base a decision on Trump's desire to punish an enemy," she said, referring to Trump's criticism of TW's CNN. "Competition is worth fighting for, and will make the country stronger."
LeoSat signed a memorandum of understanding to explore a possible service agreement with enterprise connectivity company Globecomm Systems, the two said Wednesday. LeoSat said it's finalizing manufacturing plans for its planned low earth orbit constellation (see 1611160010) with Thales Alenia Space.
DOJ is fighting AT&T's request for expedited Feb. 20 trial date for the agency's lawsuit seeking to block the company's buy of Time Warner (see 1711280063). In a docket 17-cv-02511 response (in Pacer) Tuesday in U.S. District Court for the District of Columbia, DOJ called the companies' April 22 transaction deadline "artificial" and urged "a process that leads to an orderly and complete airing of the facts and expert opinions." AT&T didn't comment Wednesday. In a filing (in Pacer) Monday, the companies argued their proposed timeline "falls comfortably in line with other merger challenges" by the FTC or DOJ since 2001.
Yale Locks parent Assa Abloy said Tuesday it completed the acquisition of smart lock company August Home, announced in October. August’s development skills and customer experience in delivery, doorbells and smart locks complements Yale’s residential business in connected locks and digital door viewers, said Martin Huddart, managing director of U.S and Canadian residential and August group.