DIRS.INFO The most relevant business & tech news

☆ Alaska-Hawaiian merger faces a Justice Department that has been skeptical of airline deals
▼ + stars: | 2023-12-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

An Alaska Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. It could be the latest in a string of challenges brought by President Joe Biden's Justice Department against airline deals it views as anticompetitive. Alaska Air Group 's executives spent months working on its plan to buy rival Hawaiian Airlines . The Alaska-Hawaiian and JetBlue-Spirit deals are different in approach, but the Alaska acquisition could still face hurdles with regulators. "We have very similar product offerings and we have very limited network overlap."

Persons: Joe Biden's, William Kovacic, Shane Tackett, Samuel Engel Organizations: Alaska Airlines, U.S, Capitol, Reagan National Airport, JetBlue, Joe Biden's Justice Department, Alaska Air Group, Hawaiian Airlines, Spirit, Virgin America, Airbus, Boeing, The, George Washington School of Law, Federal Trade Commission, CNBC, Boston University's Questrom School of Business, ICF Locations: Arlington , Virginia, U.S, The Alaska, Hawaii, Southwest, Asia, Delta, United, Alaska, anticompetitive, Pacific

That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

Deal negotiations between Exxon and Pioneer are advanced but have not yet led to an agreement, Reuters reported on Thursday. These transactions were eventually allowed to be completed, and the regulator has not sued to thwart an oil and gas production deal since 2000. The lawyers and experts interviewed said the FTC would face an uphill struggle in challenging Exxon's attempted acquisition of Pioneer. "The modern U.S. experience is that oil and gas deals of any notable size get a close look. It sued to block the merger and only agreed to drop its objections after BP offered to divest oil production acreage in Alaska.

Persons: Joe Biden, Janet Yellen, Leah Millis, producer's, Lina Khan, Andre Barlow, Doyle, Barlow, Mazard PLLC, Sheldon Whitehouse, William Kovacic, George Washington, consultancies Wood MacKenzie, David Kass, Diane Bartz, David French, Mike Stone, Greg Roumeliotis, Marguerita Choy Organizations: Treasury, White, REUTERS, Exxon Mobil, Natural Resources, Exxon, Pioneer, Reuters, Federal Trade Commission, Democratic, George, Companies, Activision, FTC, Atlantic, BP, RBC Capital Markets, Chevron, PDC Energy, University of Maryland, Thomson Locations: Washington , U.S, U.S, Atlantic Richfield, Alaska, West Texas, New Mexico, Rystad, Denver, Julesburg, Washington ,, Atlanta

☆ Watch CNBC’s full interview with former FTC chairman William Kovacic on Microsoft-Activision ruling
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with former FTC chairman William Kovacic on Microsoft-Activision rulingWilliam Kovacic, former FTC chairman, joins 'Power Lunch' to discuss the latest on the Microsoft-Activision deal and what it means for future big tech deals.

Persons: William Kovacic Organizations: Microsoft, Activision

☆ Microsoft-Activision win is also a win for Amazon, says former FTC chair William Kovacic
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft-Activision win is also a win for Amazon, says former FTC chair William KovacicWilliam Kovacic, FMR. FTC chairman, joins 'Power Lunch' to discuss the latest on the Microsoft-Activision deal and what it means for future big tech deals.

Persons: William Kovacic William Kovacic Organizations: Microsoft, Activision, Amazon Locations: FMR

In its lawsuit filed in March aimed at stopping JetBlue's purchase of Spirit, the U.S. Justice Department (DOJ) cited as evidence JetBlue's alliance with American at airports in New York and Boston several times. Calling the partnership a "de facto merger," the DOJ argued that JetBlue's proposed purchase of Spirit, a Florida-based ultra-low cost carrier, would lead to further industry concentration. On Wednesday, JetBlue CEO Robin Hayes said ending the partnership with American has taken the DOJ's "misplaced" concerns off the table and would help when the Spirit case goes to trial in October. New York-based JetBlue, however, views the Spirit deal as a way to expand its domestic footprint amid persistent labor and aircraft shortages. American, Delta (DAL.N), United (UAL.O) and Southwest Airlines (LUV.N) control nearly 80% of the U.S. airline industry.

Persons: JetBlue's, Robin Hayes, Eleanor Fox, Fox, William Kovacic, James Speta, Speta, Rajesh Kumar Singh, Diane Bartz, David Shepardson, Richard Chang Organizations: JetBlue Airways, American Airlines, Spirit Airlines, U.S . Justice Department, DOJ, Wednesday, JetBlue, American, New York University School of Law, Spirit, Former Federal Trade, George Washington University, Virgin America, Alaska Air Group, LaGuardia, Frontier Group Holdings, Northwestern University, Northeast Alliance, Southwest Airlines, U.S, Thomson Locations: CHICAGO, WASHINGTON, American, New York, Boston, Florida, Boston . New York, New, U.S, Chicago, Washington

From big-box chains Walmart (WMT.N) and Best Buy (BBY.N) to specialty retailers like Savage X Fenty and Adore Me, retailers' subscription programs are facing growing scrutiny. Amazon is under fire from the U.S. Federal Trade Commission, which filed a lawsuit against it in Seattle. Amazon "substantially revamped its Prime cancellation process" to some customers before the lawsuit was filed, according to the complaint. He withdrew the lawsuit, according to the court docket. Best Buy in 2021 launched a subscription program offering tech support and discounts on products.

Persons: Amazon, William Kovacic, Kathleen Benway, SAVAGE, Savage X, Savage, Ranjan Roy, Me's, Morgan Stanley, Spencer Sheehan, Arriana McLymore, Kate Masters, Siddharth Cavale, Muralikumar Organizations: YORK, Amazon.com Inc, Euromonitor Inc, U.S . Federal Trade Commission, FTC, Amazon, George Washington University Law School, FTC's, Consumer, WALMART, BEST, Walmart, Thomson Locations: Seattle, United States, U.S, Europe, California, Michigan, New York City

☆ Junk fees cost consumers tens of billions annually, according to the White House
▼ + stars: | 2023-03-21 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

Fees on concert tickets, airfares, hotels and other so-called junk fees cost Americans tens of billions of dollars every year, often obscuring the full price of purchases from consumers, top economic experts said at the White House on Tuesday. Biden also called on state legislators to address junk fees at a March 8 virtual meeting with the White House. The eradication of junk fees is also a bipartisan issue with positive benefits for the economy, Brainard will say. She says recent surveys show 75% of consumers support cutting junk fees, "with strong support across party lines." "As an economist, I know that regulating junk fees has a strong foundation in decades of scholarship.

☆ Former FTC chairman weighs in on the resignation of Republican FTC Commissioner Christine Wilson
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer FTC chairman weighs in on the resignation of Republican FTC Commissioner Christine WilsonWilliam Kovacic, former FTC commissioner, joins ‘Power Lunch’ to discuss the resignation of Christine Wilson, the sole Republican on the Federal Trade Commission. On Tuesday, Ms. Wilson wrote a scathing op-ed in The Wall Street Journal, saying Democratic Chair Lina Khan has a “disregard for the rule of law and due process.”

☆ The DOJ's antitrust case against Google is ambitious but risky
▼ + stars: | 2023-01-27 | by ( Lauren Feiner | ) www.cnbc.com time to read: +10 min

But alongside the possibility of great reward comes significant risk in seeking to push the boundaries of antitrust law. "All antitrust cases are an uphill battle for plaintiffs, thanks to 40 years of case law," said Rebecca Haw Allensworth, an antitrust professor at Vanderbilt Law School. But, Allensworth added, the government's challenges may be different than those in many other antitrust cases. Like all antitrust cases, this one is unlikely to be concluded anytime soon. "This is clearly the blockbuster case so far from the DOJ antitrust division," Francis said.

☆ This MSFT-ATVI deal is an effort by the FTC to reset merger policy, says fmr. commissioner
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis MSFT-ATVI deal is an effort by the FTC to reset merger policy, says fmr. commissionerWilliam Kovacic, former FTC Commissioner, joins 'The Exchange' to discuss the labor union and political support behind Microsoft, the FTC's case around Microsoft and Activision and the antitrust impact of the acquisition.

"It's a combination of the FTC and (Justice Department) being willing to litigate and the fact that companies are fighting back," Grosberg said. More recently, they have lost four attempts to block mergers in court, though they are appealing two of the cases. The Justice Department did not immediately respond to requests for comment. Break-up fees that acquirers agree to pay their targets if their deal gets shot down by antitrust regulators are also on the rise. Many companies facing merger challenges say they will fight on, emboldened by the four court losses of the Justice Department and FTC.

"The legal precedent is not on the side of the FTC," said Andre Barlow, an antitrust lawyer at Doyle, Barlow & Mazard PLLC. Barlow pointed to three recent mergers challenged by the FTC or Justice Department that were ultimately allowed to proceed. Those cases share something else in common with the proposed Microsoft deal: in each instance, a company would merge with a supplier in a so-called "vertical" merger. "Vertical merger challenges are really difficult to win so it will be an uphill battle for the FTC," said Roger Alford, who teaches law at the University of Notre Dame. Reuters reported last month that Microsoft was expected to offer remedies to EU antitrust regulators in the coming weeks to stave off formal objections to the deal.

☆ This is the boldest move the Biden administration has taken to police mergers, says fmr. FTC chairman
▼ + stars: | 2022-12-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis is the boldest move the Biden administration has taken to police mergers, says fmr. FTC chairmanWilliam Kovacic, former FTC chairman, joins 'Power Lunch' to discuss the Federal Trade Commission's decision to sue Micsoft over its deal to acquire Activision.

The U.S. Justice Department, which approved Ticketmaster's much-criticized purchase of Live Nation in 2010, is different than it was 12 years ago. A probe is well short of a decision to file a lawsuit asking a judge to break up a company. Ticketmaster previously said in a statement the Swift ticket sale problems were caused by unprecedented demand, much of it by bots trying to buy tickets to resell. "Live Nation was a new entrant, but it had the wherewithal to really compete," he said. A previous Ticketmaster fight with the department culminated in a December 2019 settlement that extended for another five years a consent decree that was part of the deal's initial approval.

☆ An antitrust battle over GIFs could be a wake-up call for Silicon Valley
▼ + stars: | 2022-10-20 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

But a long-running legal battle over who can control access to them, culminating this week in a rare defeat for Meta (META), the parent of Facebook, could have major ramifications for Big Tech regulation. On Tuesday, UK regulators forced Meta to unwind its 2020 purchase of Giphy, one of the largest searchable internet libraries of GIFs. “The Citadel may have been breached,” said Joel Mitnick, an antitrust attorney at the law firm Cadwalader, Wickersham & Taft. The company said this week that it will continue to explore acquisitions despite the UK ruling. And US courts don’t typically take foreign antitrust rulings into account; their job is to interpret US law.

☆ Antitrust concerns facing Kroger's Albertsons deal
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAntitrust concerns facing Kroger's Albertsons dealWilliam Kovacic, former FTC chairman, joins 'Squawk on the Street' to discuss Kroger's acquisition of Albertsons, the antitrust concerns in favor or against Kroger, and FTC debate considerations.

☆ From legroom to airfare: How JetBlue's takeover of Spirit could change air travel
▼ + stars: | 2022-07-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: +5 min

In this article JBLUSAVEPassengers wait in line at the Spirit Airlines check-in counter at Orlando International Airport. This is the first time anyone wanted Spirit Airlines," quipped "The Late Show" host Stephen Colbert about the deal on Thursday. As the two distinct airlines push ahead with their plans to combine, here's what passengers can expect:What are JetBlue's plans for Spirit? Afterward, passengers might be confused if they're flying in Spirit planes that haven't been retrofitted yet. Frontier Airlines, meanwhile, is already saying it's happy to take on a bigger share of the ultra-low-cost market after its Spirit deal fell apart.

Search resuls for: "William Kovacic"

18 mentions found