Business Briefs: AT&T, Tesla, InstagramPosted: Updated:
A big win for AT&T. A federal judge ruled against the Justice Department, approving AT&T's $85 billion bid to buy Time Warner. The judge could not prove that a merger will lead to less choices for consumers. AT&T owns DirecTV, and Time Warner owns CNN, HBO and rights to NBA games on TNT. According to Cheddar, the decision paves the way for other mega-mergers in the media space.
Tesla is slimming down its staff. The company will cut 9 percent of its workforce as it tries to improve its finances. That's nearly 3,500 jobs. In an email, CEO Elon Musk said full-time staff will be impacted, but production staff is safe. Tesla is still struggling to keep up with demand for its Model 3 vehicle.
Instagram addicts, don't panic! If you had trouble accessing the photo sharing app Tuesday night - you're not alone. Instagram experienced an outage Tuesday night. Users were unable to access and update their accounts. Instagram took to Twitter - to say it was working to fix the problems. No word on how long the outage lasted.