:00:00. > :00:15.Convincing the politicians and regulators.
:00:16. > :00:21.AT's plan to take over Time Warner is challenged.
:00:22. > :00:24.And as China's Communist Party annual gathering gets under way,
:00:25. > :00:28.can the country evolve from exports and heavy industry to growth
:00:29. > :00:44.It's the biggest media deal in years.
:00:45. > :00:46.The American telecoms company AT will today file for regulatory
:00:47. > :00:52.the media and entertainment giant Time Warner.
:00:53. > :00:54.The US telecoms giant will buy entertainment the group
:00:55. > :01:04.For that much money you could buy Manchester United
:01:05. > :01:06.football club 43 times over, Yahoo 18 times over
:01:07. > :01:11.and even Twitter six and a half times over.
:01:12. > :01:20.AT has 141.8 million wireless customers and 25 million TV
:01:21. > :01:25.subscribers, making it the largest pay TV provider in the US.
:01:26. > :01:29.The deal will allow AT to combine its formidable
:01:30. > :01:32.distribution network with Time Warner content including
:01:33. > :01:35.everything from fan favourite Game of Thrones to NBA basketball rights,
:01:36. > :01:44.But some critics have warned that this deal concentrates too
:01:45. > :01:48.A spokesman for Democratic presidential candidate
:01:49. > :01:51.Hillary Clinton said there were a number of questions
:01:52. > :01:56.and concerns about the deal that regulators needed to scrutinise.
:01:57. > :01:58.Republican candidate Donald Trump has said
:01:59. > :02:05.that he would block the merger if he wins.
:02:06. > :02:14.As an example of the power structure I'm fighting, AT is buying Time
:02:15. > :02:17.Warner and thus CNN, a deal we will not approve in my administration
:02:18. > :02:21.because it's too much concentration of power in the hands of too few.
:02:22. > :02:24.Frank Biondi is a former Chief Executive of Viacom,
:02:25. > :02:40.Good morning, Frank. Or good evening as the case may be for you. Give us
:02:41. > :02:44.your take on this megamerger. Will it ever get through given what it
:02:45. > :02:52.combines? I think it will. I think this is
:02:53. > :02:56.really the second deal, Comcast NBC being the first where a distributor
:02:57. > :03:00.recognises that owning a captive source of high-quality programming
:03:01. > :03:04.is really going to be the key in the future where there's going to be
:03:05. > :03:10.multiple distribution outlets. I think you'll see a similar as
:03:11. > :03:16.Comcast got and a very similar set of caveats that are built in they
:03:17. > :03:21.will have to agree to that will expire in three to five years. There
:03:22. > :03:26.will be some changes and the lawyers will have to work hard on behalf of
:03:27. > :03:31.AT and Time Warner. In terms of what it means for their customers,
:03:32. > :03:35.does it mean less choice for them and perhaps higher prices, which is
:03:36. > :03:42.what some are warning? I don't think so. In your intro you
:03:43. > :03:48.said they would have access to Game of Thrones and NBA basketball, AT
:03:49. > :03:54.customers already have that under licenses they have with Time
:03:55. > :03:59.Warner... Through their HBO license and their basic cable service
:04:00. > :04:07.licences. I think this is just about having access to the creative
:04:08. > :04:10.community and if you want to create programming exclusive to your
:04:11. > :04:15.distribution channels then you can. But that doesn't mean you won't try
:04:16. > :04:20.to buy or create it with third parties as well. But there's a risk
:04:21. > :04:26.having all this money invested distribution were suddenly you're
:04:27. > :04:30.the last man and then you don't really control your own programming
:04:31. > :04:35.destiny. That's what's driving it I think. So you're saying the concern
:04:36. > :04:40.is more for the media industry as opposed to the user at home who is
:04:41. > :04:46.deciding which package to go with? I think so. I think there will be more
:04:47. > :04:51.of what we call small bundles being offered by distributors that haven't
:04:52. > :04:54.even been born yet and some of the Time Warner programming will find
:04:55. > :05:00.its way into that if it makes economic sense. None of this strikes
:05:01. > :05:05.me as violating traditional US anti-trust law. It is not vertical
:05:06. > :05:10.integration or horizontal integration, it is the most basic
:05:11. > :05:14.kind of vertical integration in the sense that you are getting control
:05:15. > :05:19.of the small portion of a universe that ultimately will be the key to
:05:20. > :05:26.the future in digital distribution. If you are an AT customer, is it
:05:27. > :05:30.not the temptation on the part of AT/ Time Warner, whatever the
:05:31. > :05:34.final company name will be, to highlight their own content as it
:05:35. > :05:40.were as opposed to other content on the bundle, does that make sense? So
:05:41. > :05:45.they really highlight the things like Game of Thrones, CNN as opposed
:05:46. > :05:51.to other news channels you could get through the package as well. Does
:05:52. > :05:54.that make sense? It sounds devious and threatening but for practical
:05:55. > :06:06.purposes I don't see how you would do that. AT through DirectTV
:06:07. > :06:10.already have it. I think that's pretty remote. It is conceivable but
:06:11. > :06:15.that's not something I would lose a lot of sleep over. We will let you
:06:16. > :06:19.get some sleep now. Frank, thanks for your time. We appreciate your
:06:20. > :06:24.insight into this story. Very interesting. We will keep you across
:06:25. > :06:28.every twist and turn on that one to see if they get down the aisle,
:06:29. > :06:31.those two companies, as they look to marry as it were.
:06:32. > :06:35.of the leaders of China's Communist Party.
:06:36. > :06:37.The meeting, in a heavily guarded hotel in Beijing,
:06:38. > :06:41.is only open to a few members of the state news media.
:06:42. > :06:43.As well as endorsing the leadership's policy plans
:06:44. > :06:45.and key personnel appointments, they'll also be talking
:06:46. > :06:49.After the slowest growth in 25 years it's begining to perk-up again
:06:50. > :06:52.over the last three successive quarters it's grown
:06:53. > :06:58.But there are still big concerns about the country's long-term
:06:59. > :07:03.economic performance and what effect that might
:07:04. > :07:05.have for the rest of the world.
:07:06. > :07:07.With me is Jinny Yan, Chief China Economist,
:07:08. > :07:11.China Markets Strategy, ICBC Standard Bank.
:07:12. > :07:19.Nice to see you as ever. Give us your take on what we may get out of
:07:20. > :07:25.this meeting. Will we hear any new policy in terms of the economy? It's
:07:26. > :07:30.not really about setting economic policy. The more important economic
:07:31. > :07:33.meeting is at the end of the year. This is really about consolidation
:07:34. > :07:40.of power for the party, talking about party discipline and also you
:07:41. > :07:42.will hear the term institutionalisation of the
:07:43. > :07:47.anticorruption campaign. Political stability of course underpins
:07:48. > :07:51.economic stability and that's why this meeting is important for the
:07:52. > :07:54.economy as well. We're coming to the end of the year and it's
:07:55. > :07:58.interesting, at the beginning of this year it was all about the risks
:07:59. > :08:02.China poses to the global economy. But as we've gone through this year,
:08:03. > :08:07.other issues like Brexit and the US election and other things have taken
:08:08. > :08:11.precedence and China has gone on the backburner a little bit. How has
:08:12. > :08:17.this year been for China and also for the rest of us as a global
:08:18. > :08:21.economy, what are we looking ahead to now as far as China is concerned?
:08:22. > :08:24.This year the hard landing people feared in China has been averted it
:08:25. > :08:29.looks like, so things are very stable in China. Of course it came
:08:30. > :08:32.at the cost of perhaps more credit pumping by China, some of the
:08:33. > :08:37.traditional things we see China doing whenever growth is a little
:08:38. > :08:43.bit wobbly. Of course the housing market also leveraging up, so more
:08:44. > :08:47.debt in China. So all of this growth and stabilisation growth is coming
:08:48. > :08:54.at a cost, and also perhaps more reforms are now being slowed. For
:08:55. > :08:58.the rest of the world it does mean, however, that we will see that China
:08:59. > :09:01.will continue to grow perhaps next year and create more jobs, and that
:09:02. > :09:06.really is fundamental. Jinny, we will talk to you again in the future
:09:07. > :09:07.I know about how China is doing. For the moment, thank you very much.
:09:08. > :09:11.Microsoft has said it will be increasing pricing for its volume
:09:12. > :09:13.licensing enterprise software and cloud services,
:09:14. > :09:15.in the UK in the wake of the sterling's plunge
:09:16. > :09:26.The price increase, from January 1st, 2017,
:09:27. > :09:30.software and 22% for its enterprise cloud services.
:09:31. > :09:33.Pricing changes will not apply to consumer software
:09:34. > :09:43.The head of the Belgian region of Wallonia has rejected
:09:44. > :09:46.what he calls an ultimatum from Brussels for him to back the EU
:09:47. > :09:50.The EU said Thursday's planned summit with Canada could only go
:09:51. > :09:53.ahead if the Walloon administration guaranteed by Monday evening that it
:09:54. > :09:59.wouldn't stop Belgium from signing the agreement.
:10:00. > :10:03.Wallonia has expressed concern that the deal known as CETA
:10:04. > :10:05.could allow southern Belgium to be flooded with products
:10:06. > :10:16.Let's have a quick look at financial markets.
:10:17. > :10:23.You can look at how the trading week is progressing. Fairly steady, no
:10:24. > :10:27.strong gains or losses for Japan, Hong Kong and elsewhere. That's how
:10:28. > :10:30.things are progressing so far as we start a brand-new trading week.
:10:31. > :10:37.That's all from me for now. I will see you in a few minutes as we look
:10:38. > :10:40.at the other stories from the papers.
:10:41. > :10:48.Leaders of the medical profession have listed 40 treatments
:10:49. > :10:52.and procedures which they are say offer little or no benefit