As part of its deal to acquire NBCUniversal, Comcast agreed to launch more minority-owned networks by 2014 — and it's doing just that. From a music and pop culture hub called Revolt from Sean "Diddy" Combs, to a startup backed by Magic Johnson, it's a mixed bag that helps America's biggest cable operator appease the feds — but will it really do much for diversity — or TV viewers?Continue reading...

After the head of the Federal Communications Commissioned moved to block AT&T buying T-Mobile's USA operations, AT&T announced on Thanksgiving Day that it was withdrawing (for now) its application with the FCC for its planned $39 billion purchase of T-Mobile USA — and would take a $4 billion charge against earnings, the amount owed to T-Mobile parent Deutsche Telekom in the event of a failed deal. Its next move? According to the New York Times, an asset sell-off is likely looming.

"Focusing on the antitrust trial, scheduled for February, the companies ... vowed to continue to pursue their bold plan to combine the second- and fourth-largest cellphone carriers in the United States," the Times reports of the buzz on Wall Street. "But the companies’ ambitions must be scaled back if they want any chance at a deal, analysts say. To address the objections of the Justice Department and F.C.C. that a merger would be anticompetitive, AT&T could agree to sell off 40 percent or so T-Mobile’s assets to wireless rivals, they say."

Possible scenarios include selling assets to rivals who opposed the merger: Sprint and MetroPCS, the third- and fifth-largest U.S. carriers. Good thing AT&T has hired a "high-powered Internet attorney" to plead its case: "High-powered internet attorney Kent Wesley," played by Will Arnett, who will say or do "whatever it takes to get you the AT&T 4G smartphone you deserve." See more of AT&T's "You've Got a Case" holiday campaign with Arnett below.Continue reading...

AT&T is not used to not getting its way, as Politico observes today. Having spent millions and employing an army of lobbyists and publicists to make its case for acquiring T-Mobile's US operations, the telecom giant was stunned when the US Department of Justice went to court yesterday to block the deal.

Still, it stands a fighting chance to salvage its proposed merger with T-Mobile USA and convince the DOJ that the merger is not anticompetitive, but in fact offers real merits for consumers.

Whiile the company's chairman and CEO Randall Stephenson is (according to Bloomberg News) gearing up for a court fight and ready to make concessions to save the T-Mobile deal, Hal Singer, managing director of Navigant Economics, told Bloomberg TV that AT&T has a "standing chance" to convince the Department of Justice that the merger will benefit mobile customers.Continue reading...

AT&T's offer to bring home some 5,000 jobs to the US as part of its proposed $39 billion purchase of T-Mobile USA has failed to win over the Obama administration.

Reuters, the Associated Press, the Wall Street Journal and Bloomberg are reporting that the Justice Department has filed suit to block the merger, which was announced in March, between the second biggest wireless carrier in the U.S. (AT&T) and the fourth-biggest carrier.

While AT&T will likely definitely contest the DOJ suit, there's one delighted party at the news: Sprint CEO Dan Hesse, who is vigorously opposed to his rivals' merger, which would dwarf his company. (Read Sprint's official response here.)

The Justice Department just confirmed the move, stating in a press release that it's rejecting the deal on antitrust concerns that it would reduce competition and raise prices for mobile customers in the US — or as the DOJ puts it, “Unless this merger is blocked, competition and innovation will be reduced, and consumers will suffer.”

Fortune reports that AT&T shares fell nearly 4% on the news, while Sprint shares jumped more than 8%, to $3.83 a piece. The FCC review of the deal will continue, although Bloomberg notes that the agency has never approved a proposed merger that the DOJ opposed.

Allstate taps into doomsday marketing.

Amazon sells more e-books than actual books.

Apple inspires religious-like fervor, according to scientists.

Comcast questioned by Congress on FCC hire. 

Facebook CEO Mark Zuckerberg makes case for kids under 13 on the site.

Google reportedly was warned on rogue drug ads.

Justin Bieber launches a perfume for girls. 

LinkedIn climbs past $100 per share on second day of trading.Continue reading...

Angry Birds maker Rovio aims for IPO within 2-3 years.

Arnold Schwarzenegger scandal seen as affecting his political, not entertainment, brand.

Apple and Google askeded to FCC location tracking forum.

Clearwire taps Ericsson to take over network management.

General Mills to buy controlling stake in Yoplait.

Hershey CEO switches to Del Monte.

LinkedIn sets IPO at $45/share for $350 million.Continue reading...

Airbus says Mideast unrest could wipe out up to 40% of orders.

Alfa Romeo delays planned return to US.

BlackBerry-maker Research in Motion plots a rebound.

BP flounders in Russia.

CBS prepares to part ways with Katie Couric, as Couric and Matt Lauer explore reteaming for a daytime syndicated talk show.

Charlie Sheen gets two standing ovations in NYC Sunday after bombing Friday.

Christian Louboutin sues Yves Saint Laurent for allegedly violating trademark red sole.Continue reading...

Japan's nuclear situation is "approaching Chernobyl" says official, as locals stock up and fears rise.

Adobe prepares for a possible future without Flash.

AOL and TechCrunch expose editorial differences in the wake of Engadget editors' departure.

Apple and other tablet-makers are poised to see lift from corporate IT sales.

BlackBerry-maker RIM thought the iPad would be a flop.

BMW set for record sales despite rising costs as former designer heads to Samsung.

Diddy isn't giddy about being named richest hip-hop artist.

eBay cuts fees and expands offering to attract sellers.Continue reading...