MAGA Lobbyists Overturn Antitrust Merger Challenge, David Dayen Explains

Antitrust Challenges Under Trump Administration

• 💡 The Trump administration initially showed continuity in antitrust policy, challenging a $10 billion merger between Hewlett Packard Enterprises and Juniper Networks.
• ⚠️ This challenge was overturned when MAGA lobbyists appealed to Pam Bondi's office to overrule the antitrust division and approve the merger.
• 💰 This incident highlighted a practice of corruption where lobbyists paid millions to bypass antitrust officials.

The Tunny Act and Judicial Oversight

• ⚖️ The Tunny Act, enacted during the Nixon era to prevent corruption in antitrust decisions, requires a judge to approve any settlement and deem it in the public interest.
• 👨‍⚖️ The judge assigned to the HP and Juniper case was a Biden appointee and former labor lawyer, expected to scrutinize the settlement.
• resignations occurred in the aftermath, including Chad Miselle, chief of staff for Pam Bondi, who was reportedly central to overturning the merger challenge.

Recent Antitrust Actions and Public Pressure

• 🎟️ The FTC filed a case against Ticketmaster for allegedly enabling bots to buy tickets for resale on their own platform.
• 🏡 Zillow and Red Fin faced a lawsuit over a non-compete agreement that stifled competition.
• 🗣️ These actions are seen as a reaction to the perceived pay-for-play deal involving the HP/Juniper merger, especially after antitrust attorneys who spoke out were fired.
• 🏛️ Pam Bondi faced questions about antitrust during a judiciary committee hearing, indicating ongoing public and political pressure.

Implications for Future Mergers

• 📺 The discussion touches on potential mergers like Ellison's interest in Warner Brothers Discovery, noting that such deals are being scrutinized more closely.
• ⏳ The delay in announcing the Warner Brothers Discovery merger, despite being floated weeks prior, suggests increased public and regulatory caution.
• 🌱 Despite the corruption observed, the embers of fighting corporate power appear to persist.