The FCC's administrative law judge shouldn't have a role overseeing transactions, and the function of the ALJ in FCC proceedings should be rolled back or eliminated, Commissioner Mike O'Rielly said during the agency meeting Thursday. The comments came after commissioners voted 2-1 to reverse the ALJ finding that Cablevision discriminated against the Game Show Network (see 1707130048). "The ALJ function isn't working as intended," O'Rielly said, saying the agency and Congress should work out "an alternative procedure." Since commissioners rule on ALJ decisions anyway, he said that "it's adding an unnecessary layer." He said the process of referring a takeover to the ALJ "is a cop-out" intended as an indirect means of killing the deal. Asked about the idea, Chairman Ajit Pai and Commissioner Mignon Clyburn said it's too soon to form opinions.
Logitech is acquiring console headset brand Astro Gaming for $85 million in an all-cash deal expected to close in August, it announced Wednesday. Investing in an adjacent gaming market will help spur long-term growth for Logitech as it looks to expand the PC gaming category internationally, it said.
Atlantic Broadband is buying the rest of the MetroCast cable ISP systems it didn't buy in 2015 to broaden its footprint in the U.S., Atlantic parent Cogeco Communications said in a news release Monday announcing the $1.4 billion deal. Atlantic Broadband bought MetroCast's Connecticut operations in 2015 (see 1508210008). MetroCast has about 120,000 internet, 76,000 video and 37,000 voice customers in Maine, Maryland, New Hampshire, Pennsylvania and Virginia, said the release. Atlantic Broadband expects the deal to close in January, pending regulatory approvals.
Consumer Watchdog wants federal regulators to block Amazon’s $13.7 billion Whole Foods buy (see 1706160020) until “the online retailing giant” ends the “deceptive pricing practices that falsely lead consumers to believe they are getting deals with discounted prices,” the nonprofit told the FTC and DOJ in a Thursday letter. Amazon frequently displays a “reference price” for comparison with a “current sale price,” giving buyers the false impression they're saving money, said Consumer Watchdog. “Our research shows that these reference prices often have no basis in reality. Amazon is not competing on the basis of price in a way that would benefit consumers. Rather, it is competing deceptively by claiming a discount from an entirely bogus price.” Amazon representatives didn’t comment Friday.
GTT Communications agreed to acquire Global Capacity, GTT said in a Monday news release, for $100 million cash and 1.85 million shares of GTT common stock to be issued to the sellers at closing. Following GTT’s $37.6 million acquisition of Perseus (see 1706200080), the deal adds customers in the healthcare, application service provider, retail and carrier markets; enhances GTT’s managed SD-WAN service with Ethernet over copper infrastructure; and expands GTT’s network to 8.6 million U.S. commercial addresses, the buyer said. The companies expect to close by the end of Q3, including subject to regulatory approvals, GTT said.
Voxx is selling Hirschmann Car Communication and its subsidiaries to TE Connectivity for about $166 million, it announced Monday, but the company will continue to operate in the automotive space. “While the business is growing, it would require significant working capital on our end and we believe now is the right time to sell,” said Voxx CEO Pat Lavelle. Voxx will retain its OEM business that’s not part of the transaction through VoxxHirschmann Corp., it said, and it will continue its automotive aftermarket business through proprietary brands and third-party distribution agreements. Continuing operations include rear-seat infotainment, satellite radio products, telematics, car security and remote start systems, remote start modules, app-based vehicle security, keyless entry products and the eFob phone-as-a-key technology, Voxx said. Businesses that will be sold in the sale to TE Connectivity are Hirschmann's antenna, smart antenna, multi-digital tuner and commercial asset tracking unit. Under the agreement, Voxx will phase out the VoxxHirschmann name over two years. "Increasing data needs and new applications require active communications and increased connectivity within and outside the vehicle,” said Eric Kueppers, president, TE's global automotive business, saying combining Hirschmann's antenna technology with TE's sensing and connecting capabilities will give the company an end-to-end data connectivity solution. The deal, subject to customary approvals, is to close Aug. 31. Voxx shares closed up Monday 11.5 percent to $8.75.
Predicting "a hotbed of M&A activity" in cable, Macquarie analyst Amy Yong wrote investors Thursday that possible sellers include Cox, Cable One and Frontier. She said likely buyers could include Charter Communications, while Altice might buy up smaller regional players and overbuilder WideOpenWest could take an opportunistic approach. Yong said increased mergers and acquisitions could be driven by Altice and WOW going public and by "cable-hungry Charter and (maybe) Verizon."
Pandora wants to sell its sole broadcast radio station KXMZ(FM) Box Elder, South Dakota, to Rapid City-based Haugo Broadcasting for $300,000, said an application in the FCC Consolidated Database System (CDBS) Monday. Pandora went through an extended process to secure approval of the original deal to buy the station and inspired changes to foreign broadcast rules (see 1510220052). The streaming service announced the possibility of selling the station in filings last year (see 1603300056).
Time Warner and A+E Networks are among investors putting $30 million into TV audience analytics company Samba TV, Samba said in a news release Monday. Samba said it will use the funding to expand internationally and launch media and advertising products.
Verizon competed a $4.5 billion buy of Yahoo’s operating business, the carrier said Tuesday. Verizon combined Yahoo and AOL assets to create new subsidiary Oath, Verizon said. Oath brands include AOL.com, HuffPost, Tumblr and various Yahoo services. It's "a critical step in growing the global scale needed for our digital media company,” said Verizon Media and Telematics President Marni Walden. The deal originally was valued at $4.83 billion, lowered after the companies agreed to share liability from data breaches (see 1702210024).