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AT&T makes an offer to get Time Warner deal done

Illustration: Rebecca Zisser / Axios

AT&T today offered federal regulators a concession related to the parent company of CNN, in its ongoing attempt to get approval for its pending $85 billion takeover of Time Warner.

The give: In its response to a U.S. Department of Justice lawsuit, AT&T addressed concerns that it would increase prices on rival distributors for content produced by Time Warner subsidiary Turner — increases that then would be passed on to consumers. If the Time Warner deal closes, AT&T would agree to seven years of "baseball style" binding arbitration with distributors, and also that it would not pull Turner content from rival distributor systems while such arbitration is ongoing. The offer does not appear to include HBO, which also is a Time Warner property.

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Jonathan Swan 5 hours ago
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Bolton bombshell: the clashes to come

John Bolton
John Bolton speaks at CPAC in 2016. Photo: Andrew Harrer / Bloomberg via Getty Images

Sources close to President Trump say he feels John Bolton, hurriedly named last night to replace H.R. McMaster as national security adviser, will finally deliver the foreign policy the president wants — particularly on Iran and North Korea.

Why it matters: We can’t overstate how dramatic a change it is for Trump to replace H.R. McMaster with Bolton, who was U.S. ambassador to the U.N. under President George W. Bush.

Erica Pandey 7 hours ago
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How China became a global power of espionage

Illustration: Sarah Grillo / Axios

As China’s influence spreads to every corner of the globe under President Xi Jinping, so do its spies.

Why it matters: China has the money and the ambition to build a vast foreign intelligence network, including inside the United States. Meanwhile, American intelligence-gathering on China is falling short, Chris Johnson, a former senior China analyst for the CIA who's now at the Center for Strategic and International Studies, tells Axios: "We have to at least live up to [China's] expectations. And we aren't doing that."