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U.S. Justice Department, AT&T await nail-biter of a court decision

A federal judge will decide next week whether AT&T (T.N), which owns DirecTV, will be allowed to buy Time Warner (TWX.N), home to CNN and March Madness basketball, for $85 billion. Judge Richard Leon of the U.S. District Court for the District of Columbia oversaw a six-week trial where the government argued the deal was illegal because it would give AT&T the power to withhold HBO and Turner channels from DirecTV’s smaller pay TV rivals and cheaper online competitors. The Justice Department focused on Time Warner’s Turner assets, saying cable networks needed Turner channels like CNN and live …read more […]

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Business News

Chevron moves Brazil chief to lead Venezuela operations after arrests: sources

RIO DE JANEIRO/HOUSTON (Reuters) – U.S. oil producer Chevron Corp permanently assigned its Brazil country chief to run its Venezuelan operations, three sources said this week, after the months-long detention of two executives escalated tensions between the OPEC-member nation and foreign oil firms.

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