Wall Street Journal

Reps Frank Pallone (D-NJ) and Mike Doyle (D-PA) asked the Federal Communications Commission to investigate whether Sinclair Broadcast Group broke laws by allegedly influencing ad sales at rival Tribune Media, another potential setback in the TV station owners’ effort to merge.

The Justice Department argued that US District Judge Richard Leon ignored “fundamental principles of economics and common sense” when he allowed AT&T to acquire Time Warner. The department’s appellate brief, filed with the US Court of Appeals for the District of Columbia Circuit, argued Judge Leon’s ruling was “clearly erroneous in light of the evidence presented at trial.” The government brief argued Judge Leon’s contrary conclusion came about because he “discarded the economics of bargaining” and failed to apply “the foundational principle” that corporations will aim to maximize their

Facebook has asked large US banks to share detailed financial information about their customers, including card transactions and checking account balances, as part of an effort to offer new services to users. The company asked JPMorgan Chase, Wells Fargo & Co., Citigroup,  and US Bancorp to discuss potential offerings it could host for bank customers on Facebook Messenger. Facebook has talked about a feature that would show its users their checking-account balances. It has also pitched fraud alerts. Data privacy is a sticking point in the banks’ conversations with Facebook.

A looming Federal Communications Commission deadline could spur telecom companies to hurry up deal talks before restrictions on their discussions tie their hands. The FCC said in a public notice that it would stop accepting applications on Sept. 18 for two planned wireless-airwave auctions in 2018. Rules bar applicants from talking with each other from that date until the second auction ends and its winners make their down payments.