Must Read Money Stories for Thursday, Nov. 3

by November 3, 2016
The Justice Department is suing DirecTV parent company AT&T for conspiring to block a L.A. Dodgers TV channel. (Creative Commons image by Steve Baker on Flickr, CC by-ND 2.0)

The Justice Department is suing DirecTV parent company AT&T for conspiring to block a L.A. Dodgers TV channel. (“The DIRECTV blimp at the Indianapolis 500 race”  image by Steve Baker on Flickr, CC by-ND 2.0)

AT&T sued

The Justice Department is suing AT&T for an alleged illegal conspiracy to keep Los Angeles Dodgers games off cable TV. The L.A. Times says the suit involves the actions of executives at DirecTV, which is owned by AT&T. These executives allegedly traded secret information with other cable networks in an effort to sabotage negotiations with a television network owned by the Dodgers. DirecTV apparently balked at carrying the channel because of costs. And once the decision was made to keep the Dodgers channel off DirecTV, the carrier allegedly worked to make sure other cable companies would block the channel as well. The Times notes the lawsuit could also throw a wrench into AT&T’s planned takeover of Time Warner.

Gun profits

Gunmaker Ruger says sales jumped 34 percent in the third quarter, and the company’s CEO thinks it’s mostly because of the presidential campaigns. FoxBusiness reports the increase in gun sales for the Connecticut-based manufacturer was mostly due to people buying “concealed-carry pistols and AR-15 rifles.” And FoxBusiness reports Ruger isn’t the only company selling more guns. The FBI reported a record month this October for background checks on firearm purchases.

CRISPR cash

NPR reports on the muddy details behind a massive scientific find, and the potentially huge economic consequences. It all has to do with a tool known as CRISPR-Cas9, which allows scientists to easily “edit” a strand of DNA. The tool has the potential to revolutionize medicine. But NPR says there is a—literally—billion dollar question still surrounding CRISPR: Who actually discovered it?

Gawker settles

The Gawker lawsuit is officially over. CNNMoney reports all sides agreed on a settlement announced yesterday. Hulk Hogan had won a $140 million settlement against Gawker for publishing portions of a sex tape. Gawker filed for bankruptcy and was sold to Univision this summer in an auction. But the lawsuit lived on in an appeal, which could have reversed the initial ruling. Instead, CNNMoney reports what remains of Gawker will pay out $31 million to Hogan and everyone will move on.