Netflix‘s documentary Madoff: The Monster of Wall Street left viewers with more questions than answers. While the series thoroughly covered the evolution of Bernie Madoff’s Ponzi scheme and gave us insight into the man he was, many still wonder what happened to the victims.
With so many people impacted by his actions, it’s unrealistic to think they were all compensated. Here’s what we know:
Bernie Madoff’s Ponzi scheme fell to pieces in 2008 Bernie Madoff in 2009 | Andrew Harrer/Bloomberg
As an investor, Madoff claimed to use a strategy that allowed his clients to see steady gains. He made them so much money that the word spread quickly, and his popularity grew. As more people trusted him to invest their money, his business grew. Little did his clients know that Madoff wasn’t actually investing any of their money.
Instead, he pocketed his clients’ money and used...
With so many people impacted by his actions, it’s unrealistic to think they were all compensated. Here’s what we know:
Bernie Madoff’s Ponzi scheme fell to pieces in 2008 Bernie Madoff in 2009 | Andrew Harrer/Bloomberg
As an investor, Madoff claimed to use a strategy that allowed his clients to see steady gains. He made them so much money that the word spread quickly, and his popularity grew. As more people trusted him to invest their money, his business grew. Little did his clients know that Madoff wasn’t actually investing any of their money.
Instead, he pocketed his clients’ money and used...
- 2/1/2023
- by Rose Burke
- Showbiz Cheat Sheet
Charles Grodin, an Emmy-winning writer and actor who starred in films like Beethoven and The Heartbreak Kid, died of cancer Tuesday at his home in Wilton, Conn. He was 86.
Throughout his career, Grodin was known for his extremely deadpan style of humor. In addition to his big-screen work, which also included Rosemary’s Baby and Midnight Run, Grodin had several TV roles over the course of his prolific career. He played Cane Kensington in Fresno, a mini-series starring Carol Burnett and Dabney Coleman that lampooned prime-time soap operas of the 1970s and ’80s like Dallas and Dynasty. He also appeared on...
Throughout his career, Grodin was known for his extremely deadpan style of humor. In addition to his big-screen work, which also included Rosemary’s Baby and Midnight Run, Grodin had several TV roles over the course of his prolific career. He played Cane Kensington in Fresno, a mini-series starring Carol Burnett and Dabney Coleman that lampooned prime-time soap operas of the 1970s and ’80s like Dallas and Dynasty. He also appeared on...
- 5/18/2021
- by Kimberly Roots
- TVLine.com
Washington — The Justice Department said a federal judge erroneously ignored “fundamental principles of economics and common sense” in siding with At&T and Time Warner, a decision that allowed the massive media transaction to be completed in June.
The government made the argument in a 73-page brief filed on Monday, the opening salvo, as it appeals the ruling of U.S. District Judge Richard Leon.At&T’s response brief is due on Sept. 20.
In his ruling, Leon concluded that the Doj failed to show that the vertical merger would likely substantially lessen competition, based on an argument that the combined company would have increased bargaining leverage and drive up the prices that rival distributors pay for CNN, TNT, TBS, and other channels.
The Justice Department said that Leon “disregarded the economics of bargaining” by dismissing the idea that At&T would gain increased leverage over rivals after the merger. It...
The government made the argument in a 73-page brief filed on Monday, the opening salvo, as it appeals the ruling of U.S. District Judge Richard Leon.At&T’s response brief is due on Sept. 20.
In his ruling, Leon concluded that the Doj failed to show that the vertical merger would likely substantially lessen competition, based on an argument that the combined company would have increased bargaining leverage and drive up the prices that rival distributors pay for CNN, TNT, TBS, and other channels.
The Justice Department said that Leon “disregarded the economics of bargaining” by dismissing the idea that At&T would gain increased leverage over rivals after the merger. It...
- 8/6/2018
- by Ted Johnson
- Variety Film + TV
Washington — U.S. District Judge Richard Leon said that he would have a decision in the At&T-Time Warner antitrust trial by June 12, if not earlier, and planned to announce his ruling in a hearing that afternoon.
After both sides wrapped up their closing arguments, Leon sounded emotional as he praised the parties for getting the case to trial so quickly. He called it an “amazing achievement,” and said that he “will do and pledge to do my level best” to issue a decision by that date. The trial started on March 19.
The At&T-Time Warner deal expires on June 21, under an extension that the companies worked out after the Justice Department sued to block the merger in November.
At&T CEO Randall Stephenson and Time Warner CEO Jeff Bewkes were at the closing arguments.
Daniel Petrocelli, the lead attorney for the companies, called the government’s case a...
After both sides wrapped up their closing arguments, Leon sounded emotional as he praised the parties for getting the case to trial so quickly. He called it an “amazing achievement,” and said that he “will do and pledge to do my level best” to issue a decision by that date. The trial started on March 19.
The At&T-Time Warner deal expires on June 21, under an extension that the companies worked out after the Justice Department sued to block the merger in November.
At&T CEO Randall Stephenson and Time Warner CEO Jeff Bewkes were at the closing arguments.
Daniel Petrocelli, the lead attorney for the companies, called the government’s case a...
- 4/30/2018
- by Ted Johnson
- Variety Film + TV
Washington — Testimony in the At&T-Time Warner trial wrapped up on Thursday, with the marathon antitrust case concluding on Monday with closing arguments.
Attorneys for both sides shook hands with each other after Judge Richard Leon praised the legal teams for their preparations. “Both sides deserve a lot of beers at a minimum.”
The Justice Department claims that At&T will gain increased leverage in its merger with Time Warner, leading to higher carriage fees for distribution rivals and ultimately higher prices for consumers.
There was a last-minute dispute over the Doj’s efforts to admit into evidence comments that At&T and DirecTV made in filings with the FCC over other mergers and rule-making proceedings. Craig Conrath, the lead counsel for the Doj, said that the documents show that prior comments that the companies have made are “inconsistent” with what some of the executives said during the trial.
Attorneys for both sides shook hands with each other after Judge Richard Leon praised the legal teams for their preparations. “Both sides deserve a lot of beers at a minimum.”
The Justice Department claims that At&T will gain increased leverage in its merger with Time Warner, leading to higher carriage fees for distribution rivals and ultimately higher prices for consumers.
There was a last-minute dispute over the Doj’s efforts to admit into evidence comments that At&T and DirecTV made in filings with the FCC over other mergers and rule-making proceedings. Craig Conrath, the lead counsel for the Doj, said that the documents show that prior comments that the companies have made are “inconsistent” with what some of the executives said during the trial.
- 4/26/2018
- by Ted Johnson
- Variety Film + TV
Washington — The Justice Department’s chief economic expert sparred with At&T-Time Warner’s lead attorney at the antitrust trial on Tuesday in a number of tense exchanges over the method for estimating the consumer impact of the proposed merger.
At one point, Daniel Petrocelli, the lead attorney for At&T-Time Warner, and Carl Shapiro, professor at University of California at Berkeley, talked over one another until they were stopped by U.S. District Judge Richard Leon.
Later, Leon stopped Shapiro as he became agitated as Petrocelli pressed him on his use of a figure from consulting firm Altman Vilandrie & Co. that was later changed and updated.
“I have my views. I apologize,” Shapiro said to the judge at one point.
The figures were used in estimating how many subscribers would be lost in a protracted dispute in which Time Warner content is pulled from a distributor during a carriage dispute.
At one point, Daniel Petrocelli, the lead attorney for At&T-Time Warner, and Carl Shapiro, professor at University of California at Berkeley, talked over one another until they were stopped by U.S. District Judge Richard Leon.
Later, Leon stopped Shapiro as he became agitated as Petrocelli pressed him on his use of a figure from consulting firm Altman Vilandrie & Co. that was later changed and updated.
“I have my views. I apologize,” Shapiro said to the judge at one point.
The figures were used in estimating how many subscribers would be lost in a protracted dispute in which Time Warner content is pulled from a distributor during a carriage dispute.
- 4/24/2018
- by Ted Johnson
- Variety Film + TV
Washington — The At&T-Time Warner antitrust trial began to wind down on Monday as the Justice Department presented two expert witnesses who have raised doubts about the cost savings and new revenue that can be tied to the merger.
At&T’s John Stankey, tasked with overseeing the integration of the companies, last week testified that his group had identified about $2.5 billion in merger synergies, including cost savings and additional revenue. Those synergies may play a role in how U.S. District Judge Richard Leon ultimately views the transaction, as they make the case that the merger will produce certain efficiencies.
One of the Doj’s witnesses, Ronald Quintero, said that none of the companies claimed synergies that he studied could be verified through documentation or were not specific to the merger. He said that some of the figures that At&T-Time Warner used were speculative.
In a contentious cross-examination,...
At&T’s John Stankey, tasked with overseeing the integration of the companies, last week testified that his group had identified about $2.5 billion in merger synergies, including cost savings and additional revenue. Those synergies may play a role in how U.S. District Judge Richard Leon ultimately views the transaction, as they make the case that the merger will produce certain efficiencies.
One of the Doj’s witnesses, Ronald Quintero, said that none of the companies claimed synergies that he studied could be verified through documentation or were not specific to the merger. He said that some of the figures that At&T-Time Warner used were speculative.
In a contentious cross-examination,...
- 4/24/2018
- by Ted Johnson
- Variety Film + TV
Washington — Time Warner CEO Jeff Bewkes took the stand in the At&T-Time Warner antitrust trial on Wednesday, calling one of the government’s claim’s “ridiculous” and saying that others “make no sense.”
Bewkes is so far the highest profile executive to testify. His counterpart at At&T, CEO Randall Stephenson, with whom they forged a merger agreement in 2016, is expected to take the stand later this week.
Under direct examination from At&T-Time Warner’s lead counsel Daniel Petrocelli, Bewkes was asked about the government’s claim that the combined companies would gain increased leverage over distribution rivals, and would be able to demand more money for carriage of Turner networks like CNN, TBS, and TNT because of the blackout threat in a negotiating dispute.
“I think it is ridiculous,” Bewkes said. “It is not how this works.”
He suggested that Time Warner would have a great deal...
Bewkes is so far the highest profile executive to testify. His counterpart at At&T, CEO Randall Stephenson, with whom they forged a merger agreement in 2016, is expected to take the stand later this week.
Under direct examination from At&T-Time Warner’s lead counsel Daniel Petrocelli, Bewkes was asked about the government’s claim that the combined companies would gain increased leverage over distribution rivals, and would be able to demand more money for carriage of Turner networks like CNN, TBS, and TNT because of the blackout threat in a negotiating dispute.
“I think it is ridiculous,” Bewkes said. “It is not how this works.”
He suggested that Time Warner would have a great deal...
- 4/18/2018
- by Ted Johnson
- Variety Film + TV
The U.S. Department of Justice is still building its case against At&T’s $85.4 billion acquisition of Time Warner, but some analysts believe the mega-merger will go through anyway.
In a lawsuit attempting to block the At&T-Time Warner deal, the DoJ has argued the vertical merger would be detrimental to consumers. The government says a combined At&T-Time Warner could use its newfound leverage to raise licensing fees, charging more for its channels, which would in turn raise costs for viewers.
But Btig analyst Rich Greenfield doesn’t think the DoJ has done enough at this point to back up that claim.
“The government has so far failed to show that vertical integration, even with must-have content, has historically led to higher prices for programming,” Greenfield wrote in a note to investors. “While predicting the outcome of a complex trial, particularly with a judge who has limited anti-trust case history, is challenging at-best, so far it appears the government has struggled to prove its theories of harm.”
Also Read: Would Shari Redstone Really Replace CBS Chief Les Moonves With Bob Bakish?
Greenfield is not alone in his optimism for a go-ahead outcome. Before the trial started, CNBC “Mad Money” host Jim Cramer opined At&T would likely win the case and that its stock was a “Buy.”
However, the market itself doesn’t seem as confident as Cramer does. Shares of At&T are down about 5 percent from the stock’s closing price the trading day before its trial began on March 19. As for Time Warner, well, its stock is up all of 6 cents since just before the opening gavel.
Here are snapshots of the past month of trading for both public companies:
Also Read: Disney Must Make Offer to Buy All of Sky If Fox's Own Deal Falls Through
Meanwhile, John Bergmayer, senior counsel for telecommunications and internet law public interest advocacy group Public Knowledge, argues that the DoJ has actually made a pretty strong case.
“They have presented good evidence that there has been a violation of the Clayton Act,” Bergmayer told TheWrap, referring to the 1914 antitrust amendment that focuses on price discrimination, price fixing and unfair business practices.
“And I think [the DoJ’s star witness, economist and Berkeley professor] Carl Shapiro presented a strong case and held up to some tough questioning.”
On Wednesday, Shapiro testified that if the proposed combination of At&T-Time Warner is approved, consumers could be paying an extra $571 million annually by 2021. At&T-Time Warner’s witness disagreed but, Bergmayer told TheWrap, “At&T’s counter-evidence, by contrast, isn’t persuasive, and it often just promises that the company wouldn’t do the things it has every economic incentive to do.”
Also Read: Here's Everything You Need to Know About the U.S. Gov's Lawsuit to Kill the At&T-Time Warner Merger
Right now both sides appear to be hitting the notes they need to hit, according to Georgetown economics and law professor Steven Salop.
“It’s very hard to know who’s winning. It’s not like a football game,” Salop told TheWrap. “A lot is going to rest on how the judge interprets and uses in his analysis the At&T-Time Warner arbitration provision.”
The arbitration provision essentially says that At&T won’t black out Time Warner channels during negotiations with carriers, and it requires the combined company to enlist an arbiter to use fair market value to determine prices for things like licensing fees.
But in an article cowritten with Public Knowledge CEO Gene Kimmelman this month, Salop said he doesn’t think the arbitration is enough. Among the many issues Salop and Kimmelman identify is that the agreement doesn’t include HBO, nor does it include any new Time Warner networks.
At this point, how the trial shakes out all comes down to Richard Leon of the United States District Court for the District of Columbia, a judge who is not an antitrust expert. In other words, your guess is as good as ours (or Greenfield’s, or Cramer’s, or Shapiro’s, or Bergmayer’s, or Salop’s, or…)
At&T and Time Warner did not respond to TheWrap’s requests for comment on this story. A rep for the U.S. Department of Justice did respond, though just to say, “Per Judge Leon’s instructions to the parties, we aren’t commenting on the case.”
Read original story Who Is Winning in DoJ’s Case Against At&T-Time Warner? At TheWrap...
In a lawsuit attempting to block the At&T-Time Warner deal, the DoJ has argued the vertical merger would be detrimental to consumers. The government says a combined At&T-Time Warner could use its newfound leverage to raise licensing fees, charging more for its channels, which would in turn raise costs for viewers.
But Btig analyst Rich Greenfield doesn’t think the DoJ has done enough at this point to back up that claim.
“The government has so far failed to show that vertical integration, even with must-have content, has historically led to higher prices for programming,” Greenfield wrote in a note to investors. “While predicting the outcome of a complex trial, particularly with a judge who has limited anti-trust case history, is challenging at-best, so far it appears the government has struggled to prove its theories of harm.”
Also Read: Would Shari Redstone Really Replace CBS Chief Les Moonves With Bob Bakish?
Greenfield is not alone in his optimism for a go-ahead outcome. Before the trial started, CNBC “Mad Money” host Jim Cramer opined At&T would likely win the case and that its stock was a “Buy.”
However, the market itself doesn’t seem as confident as Cramer does. Shares of At&T are down about 5 percent from the stock’s closing price the trading day before its trial began on March 19. As for Time Warner, well, its stock is up all of 6 cents since just before the opening gavel.
Here are snapshots of the past month of trading for both public companies:
Also Read: Disney Must Make Offer to Buy All of Sky If Fox's Own Deal Falls Through
Meanwhile, John Bergmayer, senior counsel for telecommunications and internet law public interest advocacy group Public Knowledge, argues that the DoJ has actually made a pretty strong case.
“They have presented good evidence that there has been a violation of the Clayton Act,” Bergmayer told TheWrap, referring to the 1914 antitrust amendment that focuses on price discrimination, price fixing and unfair business practices.
“And I think [the DoJ’s star witness, economist and Berkeley professor] Carl Shapiro presented a strong case and held up to some tough questioning.”
On Wednesday, Shapiro testified that if the proposed combination of At&T-Time Warner is approved, consumers could be paying an extra $571 million annually by 2021. At&T-Time Warner’s witness disagreed but, Bergmayer told TheWrap, “At&T’s counter-evidence, by contrast, isn’t persuasive, and it often just promises that the company wouldn’t do the things it has every economic incentive to do.”
Also Read: Here's Everything You Need to Know About the U.S. Gov's Lawsuit to Kill the At&T-Time Warner Merger
Right now both sides appear to be hitting the notes they need to hit, according to Georgetown economics and law professor Steven Salop.
“It’s very hard to know who’s winning. It’s not like a football game,” Salop told TheWrap. “A lot is going to rest on how the judge interprets and uses in his analysis the At&T-Time Warner arbitration provision.”
The arbitration provision essentially says that At&T won’t black out Time Warner channels during negotiations with carriers, and it requires the combined company to enlist an arbiter to use fair market value to determine prices for things like licensing fees.
But in an article cowritten with Public Knowledge CEO Gene Kimmelman this month, Salop said he doesn’t think the arbitration is enough. Among the many issues Salop and Kimmelman identify is that the agreement doesn’t include HBO, nor does it include any new Time Warner networks.
At this point, how the trial shakes out all comes down to Richard Leon of the United States District Court for the District of Columbia, a judge who is not an antitrust expert. In other words, your guess is as good as ours (or Greenfield’s, or Cramer’s, or Shapiro’s, or Bergmayer’s, or Salop’s, or…)
At&T and Time Warner did not respond to TheWrap’s requests for comment on this story. A rep for the U.S. Department of Justice did respond, though just to say, “Per Judge Leon’s instructions to the parties, we aren’t commenting on the case.”
Read original story Who Is Winning in DoJ’s Case Against At&T-Time Warner? At TheWrap...
- 4/13/2018
- by Trey Williams and Tony Maglio
- The Wrap
Washington — An expert witness for At&T-Time Warner spent much of Thursday blasting the methodology behind the government’s claims of the merger’s harm to consumers, even concluding that “on average prices will go down.”
Dennis Carlton, a professor at the University of Chicago, refuted claims made just a day earlier by Carl Shapiro, the government’s economic expert and a professor at University of California at Berkeley, and gave his own analysis of the effects of the merger.
“The evidence does not support the government’s claim, Shapiro’s claim, that this will harm consumers,” Carlton testified.
The Justice Department is suing to block the $85 billion merger, claiming that it would give At&T-Time Warner increased leverage that will allow it to extract higher carriage rates for networks like CNN, TBS, and TNT from rivals to At&T. That would ultimately lead to higher prices for consumers.
Dennis Carlton, a professor at the University of Chicago, refuted claims made just a day earlier by Carl Shapiro, the government’s economic expert and a professor at University of California at Berkeley, and gave his own analysis of the effects of the merger.
“The evidence does not support the government’s claim, Shapiro’s claim, that this will harm consumers,” Carlton testified.
The Justice Department is suing to block the $85 billion merger, claiming that it would give At&T-Time Warner increased leverage that will allow it to extract higher carriage rates for networks like CNN, TBS, and TNT from rivals to At&T. That would ultimately lead to higher prices for consumers.
- 4/13/2018
- by Ted Johnson
- Variety Film + TV
Washington — The Justice Department, nearing the end of its witness list in the At&T-Time Warner antitrust trial, presented an expert whose study about the impact of the merger gave the government’s lawsuit its economic heft.
Carl Shapiro, a professor at University of California at Berkeley who also has held positions at the White House and the Antitrust Division, contends that his modeling of the transaction shows that it will cost consumers an extra $436 million per year, as of 2017, and $571 million by 2021.
“Consumers will be hurt,” Shapiro said. “They will be hurt because competitors to DirecTV will face higher costs.”
His study is key to the Justice Department’s efforts to show that the $85 billion merger will harm consumers, the standard by which the government determines if a transaction raises antitrust issues. He told Justice Department attorney Eric Welsh that he agreed that the merger would “substantially lessen” competition.
Carl Shapiro, a professor at University of California at Berkeley who also has held positions at the White House and the Antitrust Division, contends that his modeling of the transaction shows that it will cost consumers an extra $436 million per year, as of 2017, and $571 million by 2021.
“Consumers will be hurt,” Shapiro said. “They will be hurt because competitors to DirecTV will face higher costs.”
His study is key to the Justice Department’s efforts to show that the $85 billion merger will harm consumers, the standard by which the government determines if a transaction raises antitrust issues. He told Justice Department attorney Eric Welsh that he agreed that the merger would “substantially lessen” competition.
- 4/12/2018
- by Ted Johnson
- Variety Film + TV
Washington — A key government expert witness took the stand in the At&T-Time Warner antitrust trial, running through the results of his study showing that the merger will lead to higher prices for consumers.
The expert, Uc Berkeley Professor Carl Shapiro, traces the price increases to the increased leverage that At&T-Time Warner will have in the marketplace, and that one of its subsidiaries, the Turner networks, will be able to demand and get higher rates for its channels in carriage negotiations from At&T’s rivals.
But U.S. District Judge Richard Leon, who is presiding over the case, questioned one of Shapiro’s assumptions — that the Turner networks actually will take marching orders from new parent At&T, in a way that also would be to the benefit of At&T-owned DirecTV.
Leon noted that an executive from NBCUniversal testified that he didn’t “take orders” from Comcast,...
The expert, Uc Berkeley Professor Carl Shapiro, traces the price increases to the increased leverage that At&T-Time Warner will have in the marketplace, and that one of its subsidiaries, the Turner networks, will be able to demand and get higher rates for its channels in carriage negotiations from At&T’s rivals.
But U.S. District Judge Richard Leon, who is presiding over the case, questioned one of Shapiro’s assumptions — that the Turner networks actually will take marching orders from new parent At&T, in a way that also would be to the benefit of At&T-owned DirecTV.
Leon noted that an executive from NBCUniversal testified that he didn’t “take orders” from Comcast,...
- 4/11/2018
- by Ted Johnson
- Variety Film + TV
Washington — The At&T-Time Warner antitrust trial, which entered its fourth week on Monday, so far has been a proceeding that has unfolded drip by drip, as the government has sought to prove its case with evidence of e-mails, PowerPoint presentations and other documents and the the defense has tried to dismiss their relevance.
There have been few bombshell revelations, with the caveat that a chunk of the trial has been conducted outside of public view.
For much of the afternoon on Monday, for instance, attorneys for the Justice Department and the two companies gathered in a closed courtroom session with U.S. District Judge Richard Leon, apparently to go over some confidential information that will have an impact on the witness list to come.
The government claims that the combined company will have the leverage to demand onerous rates for content from At&T’s rivals, ultimately driving up the costs for consumers.
There have been few bombshell revelations, with the caveat that a chunk of the trial has been conducted outside of public view.
For much of the afternoon on Monday, for instance, attorneys for the Justice Department and the two companies gathered in a closed courtroom session with U.S. District Judge Richard Leon, apparently to go over some confidential information that will have an impact on the witness list to come.
The government claims that the combined company will have the leverage to demand onerous rates for content from At&T’s rivals, ultimately driving up the costs for consumers.
- 4/10/2018
- by Ted Johnson
- Variety Film + TV
Washington — A senior executive at Charter Communications testified at the At&T-Time Warner antitrust trial that he has concerns that the merger will enable the combined company to demand “excessive” price increases and give them greater leverage over content-bundling practices.
But Tom Montemagno, who, as Charter’s executive vice president of programming acquisition, is chief negotiator for carriage of cable channels, said that he was largely unaware of the contents of a study that Charter commissioned in 2016 to gauge the impact of the potential loss of Turner network channels, which include CNN, TBS, and TNT.
That study, which initially cost $700,000 and was done by Altman, Vilandrie & Co., came up with a key estimate that Charter would suffer a 9% loss in current and potential subscribers if it were to lose the Turner channels. It was commissioned by Charter in advance of what were expected to be tough negotiations for carriage...
But Tom Montemagno, who, as Charter’s executive vice president of programming acquisition, is chief negotiator for carriage of cable channels, said that he was largely unaware of the contents of a study that Charter commissioned in 2016 to gauge the impact of the potential loss of Turner network channels, which include CNN, TBS, and TNT.
That study, which initially cost $700,000 and was done by Altman, Vilandrie & Co., came up with a key estimate that Charter would suffer a 9% loss in current and potential subscribers if it were to lose the Turner channels. It was commissioned by Charter in advance of what were expected to be tough negotiations for carriage...
- 4/3/2018
- by Ted Johnson
- Variety Film + TV
Updated Washington — A top executive at Comcast testified at the At&T-Time Warner antitrust trial on Thursday that he has “no reason” to believe that the massive merger will have an impact on their company’s negotiations for Turner channels or HBO.
A key argument in the Justice Department’s case is that the merger will give At&T-Time Warner increased leverage to demand more onerous fees from distribution rivals, ultimately driving up prices for consumers.
But Greg Rigdon, executive vice president of content acquisition for Comcast, was asked by Time Warner’s attorney Kevin Orsini what would change after the merger.
While cautioning that he didn’t know how the company would operate, he said he had “no reason to believe it will impact my negotiations with Turner or HBO.”
A portion of Rigdon’s testimony was being conducted in closed session in the courtroom, with only the judge and the parties present,...
A key argument in the Justice Department’s case is that the merger will give At&T-Time Warner increased leverage to demand more onerous fees from distribution rivals, ultimately driving up prices for consumers.
But Greg Rigdon, executive vice president of content acquisition for Comcast, was asked by Time Warner’s attorney Kevin Orsini what would change after the merger.
While cautioning that he didn’t know how the company would operate, he said he had “no reason to believe it will impact my negotiations with Turner or HBO.”
A portion of Rigdon’s testimony was being conducted in closed session in the courtroom, with only the judge and the parties present,...
- 3/29/2018
- by Ted Johnson
- Variety Film + TV
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