Comcast has confirmed reports that the company will be acquiring Time Warner Cable in a deal estimated to be worth around $45 billion. With the ink on their NBC acquisition only just dry to the touch, the deal will tack 8 million broadband subscribers onto the company’s existing 22 million broadband customers. Comcast is already the nation’s largest fixed-line broadband company, largest cable TV provider, and third largest fixed-line phone company — and that’s before you include the company’s NBC or other assets. From a geographical perspective the deal makes sense; Time Warner Cable filling in Comcast’s coverage gaps and in particular giving Comcast the prized markets of Los Angeles and New York City, where Time Warner Cable has traditionally under-performed.
The problem is less of market share (the two companies didn’t compete directly) but one of consolidated power…
* Virginia is for lovers — gay and straight alike. Judge Arenda L. Wright Allen (E.D. Va.) just struck down the state’s ban on same-sex marriage (but stayed her ruling pending appeal). Happy Valentine’s Day! [Washington Post]
* Did a Biglaw firm make a big-time mistake by blowing a deadline to appeal a $40 million verdict? [Law360 (sub. req.)]
* Speaking of screw-ups, making them in the e-discovery realm can be costly — a lesson that California is learning the hard way, to the tune of $32 million. [ACEDS]
* Former New Orleans Mayor Ray Nagin thought he’d be acquitted; he thought wrong. [ABA Journal]
* George Washington wasn’t a member of the one of the 8 magic groups — but his story still illustrates the truth of The Triple Package (affiliate link), according to Washington biographer Logan Beirne. [Fox News]
* Authorities have made an arrest for the package bombing that killed a retired Tennessee lawyer and his wife. [CNN]
* In continuing Seventh Circuit benchslappiness, Judge Richard Posner got feisty with an attorney for Notre Dame who kept interrupting him. If this lawyer keeps it up, Posner’s going to treat his client like Alabama did a year ago. [Chicago Tribune]
* Comcast wants to buy Time Warner, pending DOJ approval. The DOJ wants to talk to Comcast, but they’re only available to talk between 10 and 10:15 on alternating Wednesdays. [ATL Redline]
* California and New Jersey have banned gay conversion therapy programs. Is that the best way to combat these schemes? [New York Times]
* A look at getting started as an entrepreneur. See, there’s hope after bailing on practicing law. [Big Law Rebel]
* Daria Roithmayr of USC Law thinks The Triple Package (affiliate link), the new book by Yale’s Amy Chua and Jed Rubenfeld, doesn’t hold water. I mean, since when are we holding academics to writing “scholarship” as opposed to “controversy bait”? Professors need to eat, after all. [Slate]
* A cop who got in trouble for bashing Obama online thought he was protected by the First Amendment. The court disagreed. [IT-Lex]
My wife, who is being deprived of shows like Dexter and The Big Bang Theory reruns by the Time Warner/CBS fee dispute, and is terrified of missing out on Homeland, said of the two warring media conglomerates: “It’s like watching two muggers argue over who gets to steal your purse.”
I haven’t been paying it much attention. I’m assuming that TWC and CBS will get this sorted in time for football season. Well, let me rephrase, I’m assuming that if these two billion-dollar operations can’t get their act together in time for football season, we’re going to see the American version of “Arab Spring” and there will be blood in the streets. There are few things you don’t mess with in America: one is football, and I don’t think people care about number two as long as football is on.
Sorry, let me back up, CBS has been blacked out in New York, Los Angeles, and Dallas for weeks now due to a fee dispute with Time Warner Cable. CBS also owns Showtime, so that’s been blacked out, and the Smithsonian channel — which nobody watches but me because it’s the last “learning” channel that doesn’t pander to redneck pawn, ice, gold, lumber, and fishing stars.
In response to this ridiculous situation, a group in Los Angeles has filed a class action lawsuit against TWC for blacking out CBS…
* I didn’t make this list of the 25 most influential people in legal education. That pisses me off. I’m going to start writing about how people shouldn’t trust legal educators because law schools are only interested in profits and not the employment outcomes of their students. That’ll show ‘em! [Tax Prof Blog]
* … Of course, you know what else doesn’t make any list of influencing legal education? The truth. [Constitutional Daily]
* Time Warner Cable is well within its rights to act like feckless cowards. [Huffington Post]
* I like watching the Feds try to roll rich people. I’ve got no horse in the race, I’m just there for the competition. [Dealbreaker]
* U.K. considers forcing fat people to lose weight in order to keep their benefits. I was going to make a “Britain, outsource, BBW” joke, which somehow led me to the Wikipedia page for BBW, a page that has really not at all what you’d expect the graphic on BBW to be. [Legal Blog Watch]
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.