February 13, 2013 |
A long-anticipated merger of American Airlines and US Airways is expected to be announced Thursday after weeks of closed-door negotiations, according to people briefed on the deal. The transaction would create the nation's largest carrier and cap an era of consolidation in a troubled industry. The marriage of American, based in Fort Worth, and its smaller competitor based in Tempe, Ariz., would form an airline valued at $11 billion. The union would be the latest in a string of mergers and acquisitions in an industry struggling to stay airborne amid fluctuating fuel costs, labor strife and economic turbulence.
September 1, 2011 |
Recent notable cases in which the U.S. government has tried to stop a corporate merger: 1997: The Federal Trade Commission blocks the merger of office-supply superstore chains Staples Inc. and Office Depot Inc. 1998: The Justice Department sues to block Lockheed Martin Corp.'s $11.6-billion acquisition of aviation rival Northrop Grumman Corp. Four months later, Lockheed drops its bid. 2000: The $120-billion merger of long-distance telephone companies WorldCom Inc. and Sprint Corp.
July 12, 2013 |
A merger between US Airways and American Airlines, creating the nation's largest air carrier, has taken another step forward with the approval of a majority of US Airways shareholders. About 99% of US Airways Group shareholders who voted Friday supported the merger with American's parent company, AMR Corp. The vote was not surprising as it was US Airways that first proposed the merger after AMR Corp. filed for bankruptcy in 2011. "This approval is a major milestone on our path to completing the merger, and we continue to make excellent progress overall thanks to the focused efforts of the dedicated representatives from both companies," said Doug Parker, chairman and chief executive of US Airways and incoming chief executive of the combined company.
February 13, 2014 |
So will Comcast's roughly $45-billion merger with Time Warner Cable be good for consumers? To no one's surprise, Comcast Chief Executive Brian L. Roberts said Thursday that the answer is a resounding yes. Consumers will be the big winners here, he said. In Roberts' words, the merger would be "pro-consumer," "pro-competitive" and "in the public's interest. " But will it? The merger would allow Comcast to dominate the cable industry and to be the big dog in 19 of the nation's 20 largest pay-TV markets.
June 20, 2013 |
The proposed merger of American Airlines and US Airways would cut competition on more routes than previously thought, impacting more than 53 million fliers, according to a new federal study. Proponents of the merger have said in the past that the two airlines overlap on only 12 non-stop routes. But in the first detailed study of the merger's impacts, the U.S. Government Accountability Office said competition would be cut on 1,665 other routes with at least one stop. By comparison, the GAO study said the merger of United with Continental in 2010 eliminated a key competitor in 1,135 routes.
November 16, 2012 |
About 10 years ago, Dish Network and DirecTV tried to merge but regulators decided that a combination of the nation's two satellite broadcasters would be anti-competitive. At that time, one of the reasons given for blocking the marriage was that it would limit competition among pay-TV distributors. Now, a decade later, there are more options for consumers in the form of phone companies such as Verizon and AT&T. Also, online platforms such as Netflix and Hulu have emerged as viable distribution systems.
March 8, 2013 |
MOCA has been known as "the artist's museum" since its founding in 1979 because of hands-on support from its creative community. So what do L.A. artists think about the news of a possible acquisition by LACMA, which would create a combined organization run by LACMA Director Michael Govan? Here are some early reactions. John Baldessari, a former MOCA trustee said: "LACMA is an encyclopedic museum, but they are weak when it comes to contemporary art, and this would make their holdings in contemporary art better than the Metropolitan [Museum of Art in New York]
February 11, 2013 |
Merger talks between the parent company of American Airlines and US Airways continued Monday, with sources suggesting an announcement could be made later this week. The union of Fort Worth-based American and Phoenix-based US Airways would create the nation's largest airline, with a mainline fleet of nearly 1,000 planes. The boards of the two airlines are expected to meet in the next few days to vote on the proposed merger, sources have told Reuters News . According to the sources, US Airways Chief Executive Doug Parker would become CEO, while AMR Corp.' chief Tom Horton would serve as non-executive chairman of the board until next year.
January 24, 2013 |
Hanmi Financial Corp. of Los Angeles said its profit more than doubled to $14 million in the fourth quarter as regulators lifted 3-year-old orders requiring the parent of Hanmi Bank to raise more capital. The end of enforcement actions by state bank regulators and the Federal Reserve enables Hanmi, once the largest of the many Koreatown-based banks, to focus on arranging a financial marriage for itself, Chief Executive Jay S. Yoo said in announcing the earnings Thursday morning.
March 26, 2014 |
Once again there is speculation that satellite broadcasters Dish and DirecTV are in merger talks, this time courtesy of a story in Bloomberg. These stories have been popping up about every six months. Typically, the stocks of both companies get a nice boost and then a few weeks go by and nothing happens. Then six months later another story breaks and the process repeats itself. A combination of Dish and DirecTV would create a pay-TV powerhouse with about 35 million subscribers.