The effects of mergers on the media marketplace have historically failed to live up to dire predictions. Mergers are often a response to technological upheaval and turbulence in the media industry and firms should be allowed to experiment with such alternative business models with the intent on...

The "worst opinion" of the title is not the appellate affirmance in United States v. AT&T, which put the final end to the government's challenge to the merger of AT&T and Time Warner. It was the trial court's fundamental ruling at the close of the bench trial, rejecting the government's claims....

The vertical merger of AT&T and Time Warner combined one of the largest downstream multiple video program distributors (MVPDs) with one of the largest upstream providers of pay-TV programming. The U.S. Department of Justice sued to block the merger, arguing that the combined entity would have...

This Article begins with a discussion of the U.S. approach to analyzing acquisitions of potential competitors. We explain the need for exacting standards, including due to the increased difficulties of predicting the future world without the acquisition. Unlike with actual competition, with...

We study effects on prices and quantities of a takeover in the rather concentrated German interurban bus industry. We empirically asses the effect of the takeover of Postbus by Flixbus on industry key features, using a route-level price data set containing prices for more than 6,000 routes in...

By serving as a key revenue source for online content providers, online advertising has been instrumental in the development of innovative websites. Continued innovation among content providers, however, depends critically on the competitive provision of online advertising. Suppliers of online...

A great merger wave occurring in the United States between 1897 and 1903 was the single most important event in a process that yielded the pattern of managerial control and dispersed share ownership which currently distinguishes America's corporate economy from arrangements in most other...

This article assesses the effectiveness of outlet divestitures as remedies in a merger between two large gasoline retailers. Results show that divestitures are effective in disciplining the increase in margins generated by the merger, but only for competing gas stations located within a one...

Mergers in the pharmaceutical sector warrant special scrutiny not only because of concerns over affordability of medicines, but also because the institutional details of pharmaceutical markets complicate the economic analysis of merger effects. Standard anti-trust analysis of mergers, in...