THE WEEK THAT WAS...
PUC approves cable merger
Charter Communications has cleared a f inal regulatory hurdle in its nearly yearlong quest to clinch its $71billion acquisition of Time Warner Cable and Bright House Networks. California Public Utilities Commission members voted unanimously to approve the transfer of phone licenses, a blessing needed by Charter to complete the merger of the three cable companies.
Hyping the hyperloop
Development of the nearly supersonic transportation system known as the hyperloop reached a new milestone as entrepreneurs propelled a small sled about 100 yards at half its eventual targeted speed. The demonstration in the north Las Vegas desert is the latest hype-building event for the hyperloop, a concept that L.A. business mogul Elon Musk popularized in 2013.
Google bans payday ads
Google has a message for payday lenders: Your ads are not wanted here. The Internet search giant announced that it was banning them in order to protect its users “from deceptive or harmful f inancial products,” delivering another blow to an industry under f ire from regulators and consumer advocates. The ban, which takes effect July 13, does not apply to search results.
Redstone suit is dismissed
In a victory for Sumner Redstone, a L.A. judge dismissed a lawsuit that challenged the 92-yearold billionaire’s mental competence. The ruling doesn’t entirely end the drama with Redstone's former girlfriend, Manuela Herzer, who vowed to appeal and f iled a new lawsuit against his family members. But it eliminates a major distraction at struggling Viacom and its lagging Paramount Pictures.