Telecommunications, Media, and Entertainment

Cornerstone Research supports clients in dynamic and rapidly evolving telecommunications, media, and entertainment industries in merger reviews, regulatory matters, antitrust litigation, intellectual property disputes, contract disputes, and class actions.

We have worked with counsel for leading telecommunications companies, such as AT&T, Sprint, T-Mobile, Verizon, and Qualcomm, and media and entertainment companies, including Time Warner, Comcast, Facebook, Disney, Netflix, SiriusXM, and Microsoft. Our clients have relied on Cornerstone Research for economic, marketing, and financial analyses in all phases of regulatory proceedings and commercial litigation.

Telecommunications, Media, and Entertainment Capabilities

Antitrust Review of Mergers and Acquisitions

Cornerstone Research’s in-house and affiliated experts have submitted white papers and presented written and oral testimony in a variety of litigation matters, in Department of Justice and Federal Trade Commission investigations, and in Federal Communications Commission and California Public Utility Commission proceedings.

Cornerstone Research has analyzed potential competitive effects of both horizontal and vertical mergers. These analyses include defining relevant markets; identifying competitors; determining competitive interactions; and assessing potential price impacts, potential for foreclosure, and merger-specific efficiencies.

Regulation and Oversight

Cornerstone Research has provided critical analysis in regulatory matters involving net neutrality, royalties for television programming, royalties for music licensing, and spectrum auctions. We have also assessed the competitiveness in long distance service in the context of Section 271 of the Telecommunications Act of 1996. Work by our experts has been considered by several regulatory bodies, including the Federal Communications Commission, the Copyright Royalty Board (Library of Congress), and public utilities commissions in various states.

Antitrust Litigation

Cornerstone Research has analyzed a range of competition issues, including price-fixing, predatory pricing, monopolization, exclusionary practices, acquisition valuation, and foreclosure. We apply economic insights and sophisticated econometric and statistical tools to study horizontal and vertical issues related to market definition, market power, determinants of price, and demand estimation.

Our experience includes:

  • wireless and wireline telephony
  • broadband data and voice communications
  • cable and direct broadcast satellite distribution
  • telecommunications infrastructure and handset equipment
  • television programming and digital streaming
  • music sales, online gaming, e-books, and print media

Consumer Fraud and Product Liability

Cornerstone Research has supported experts’ opinions on issues of class certification, exposure, reliance, impact, and damages. Our expertise in consumer behavior, content analysis, conjoint studies, survey methods, and the economic impact of advertising—combined with our knowledge of the telecommunications, media, and entertainment industry—positions us to provide support on these matters.

Intellectual Property

Cornerstone Research combines industry knowledge; expertise in intellectual property damages, such as applying Panduit factors for lost profits calculations and considering Georgia-Pacific factors for reasonable royalty assessments; and cutting-edge economic tools to provide value to our clients. Our experience spans matters related to wireless service retailing, VoIP, wireline networks, optical-fiber networks, telephony services, satellite services, online social games, and internet advertising.

Our work includes:

  • analyzing revenues for a wireless service provider
  • conducting studies of alternatives to patented innovations
  • examining the economic value of patents
  • analyzing consumer demand for telecommunications products and services
  • determining fair, reasonable, and nondiscriminatory (FRAND) royalties for standard essential patents
  • analyzing other effects from alleged infringement.

Damages and Breach of Contract

Cornerstone Research provides economic and financial expertise in general damages analysis and breach of contract disputes. Our experts have analyzed the viability of telecommunications firms, opined on valuation of wireless telecommunications assets, and studied distribution issues in satellite radio.

Shareholder Litigation, Bankruptcy, and Securities

We have provided support to our clients in the telecommunications, media, and entertainment industries in a variety of cases, addressing issues such as those related to Rule 10b-5 and Sections 11 and 12, Employee Retirement Income Security Act (ERISA) actions, mergers and acquisitions, valuation, corporate governance, bankruptcy, and insolvency.