| 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. |
Our extensive network includes top experts from academia and industry.
Our extensive network includes top experts from academia and industry.
William P. Rogerson
Charles E. and Emma H. Morrison Professor of Economics,
Northwestern University
William Rogerson is an industrial organization expert who addresses issues related to antitrust, telecommunications regulation, defense procurement, and the economics of mergers and acquisitions. In his research, Professor Rogerson has analyzed a range of topics related to antitrust enforcement and regulation, notably the role of digital platforms, the competitive effects of vertical mergers, and economic theories of harm arising in telecommunications mergers.
Professor Rogerson served as the chief economist at the Federal Communications Commission (FCC). He has consulted for the Federal Trade Commission, the Office of the Secretary of Defense, and the RAND Corporation, among others. He has testified in high-profile litigation and regulatory proceedings, including before the FCC, the Department of Justice, the European Commission, and the Canadian Competition Bureau.
Professor Rogerson has contributed chapters to several books and published articles in leading academic journals. He was co-editor of Economic Inquiry, and served on the editorial boards of the Review of Accounting Studies, the Journal of Industrial Economics, and Defense and Peace Economics.
Lexology Index (formerly Who’s Who Legal) has recommended Professor Rogerson as a leading competition economist and consulting expert in the competition field. The Industrial Organization Society has honored him with its Distinguished Service Award and Global Competition Review named Professor Rogerson to its inaugural list of the world’s most important antitrust academics.
At Northwestern, Professor Rogerson directs the Harvey Kapnick Center for Business Institutions. He also serves as research director of the Program on Antitrust Economics and Competition Policy in the Pritzker School of Law’s Center on Law, Business and Economics. He has been a visiting fellow at the University of Chicago, and began his research and teaching career at Stanford University.
Our extensive network includes top experts from academia and industry.
C. Scott Hemphill
Moses H. Grossman Professor of Law,
School of Law, New York University
Scott Hemphill provides expert testimony on antitrust matters, in which he has addressed such topics as merger effects, monopsony, industry regulation, vertical restraints, and exclusionary conduct. He has particular expertise with matters involving complex economic models of liability. Professor Hemphill has testified before Congress on various issues, including the proposed Comcast/Time Warner merger and pharmaceutical competition and innovation. An economist and lawyer by training, he has served as antitrust bureau chief for the New York Attorney General, and as a law clerk for Judge Richard A. Posner on the U.S. Court of Appeals for the Seventh Circuit and for Justice Antonin Scalia on the U.S. Supreme Court.
Professor Hemphill’s research interests and expertise lie at the intersection of competition and innovation, covering subjects such as concentration in high-tech industries, drug patents, net neutrality, and fashion and product design copyright. Recently, he has focused on platform competition and on the potential competitive effects of common shareholding. Professor Hemphill’s research has been cited in federal and state courts, including the U.S. Supreme Court and the California Supreme Court, and has formed the basis for congressional testimony on matters of regulatory policy.
A noted author, Professor Hemphill’s articles have been published in Yale Law Journal, Columbia Law Review, and Antitrust Law Journal, peer-reviewed economic journals, and the popular press. He has contributed chapters to several books, including the Oxford Handbook of Intellectual Property Law. Both Concurrences and the American Antitrust Institute (AAI) have honored him with multiple writing awards. Lexology Index (formerly Who’s Who Legal) has recommended Professor Hemphill as a Thought Leader, leading competition economist, and consulting expert in the competition field. AAI has recognized him for Outstanding Antitrust Litigation Achievement in Economics. Global Competition Review named Professor Hemphill to its inaugural list of the world’s most important antitrust academics.
At NYU Law, Professor Hemphill teaches courses on antitrust law and intellectual property. Previously, he was a professor at Columbia Law School. Professor Hemphill has also served as an instructor at the Antitrust Law & Economics Institute for Judges, an educational curriculum organized by the ABA Section of Antitrust Law and the Federal Judicial Center.
Our extensive network includes top experts from academia and industry.
Gregory L. Rosston
Gordon Cain Senior Fellow,
Stanford Institute for Economic Policy Research (SIEPR);
Director, Stanford Public Policy Program;
Professor of Economics (by courtesy),
Stanford University
Gregory Rosston is an expert on competition policy and strategy, and on intellectual property. His specialties include industrial organization, antitrust, and regulation with an emphasis on telecommunications, media, and the Internet.
Professor Rosston has testified as an expert witness on competition and telecommunications matters before federal and state courts and in international arbitration. He consulted to AT&T and Time Warner during the regulatory process and litigation about the proposed $85 billion merger’s likely competitive effects. He has also consulted on major transactions undergoing antitrust review at the Department of Justice and Federal Communications Commission (FCC), including Comcast/NBCUniversal, Comcast/Time Warner Cable, and T-Mobile/Sprint. In addition, Professor Rosston has served as an expert for parties involved in various FCC regulatory proceedings, and has testified before the Commerce Committees of the U.S. Senate and House.
Professor Rosston served as deputy chief economist at the FCC, working on the implementation of the Telecommunications Act of 1996, and helping to design and implement the first spectrum auctions in the United States. Professor Rosston returned to the FCC as senior economist for transactions to assist the Commission with its analysis of competition issues in the proposed acquisition of T-Mobile by AT&T. In addition, he cochaired the Commerce Spectrum Management Advisory Committee and assisted the President’s Council of Advisers on Science and Technology in 2011 and 2012.
Professor Rosston has served as a consultant to various organizations, including the World Bank; and as a board member and advisor to high‑technology, financial, and start-up companies in the areas of auctions, business strategy, antitrust, and regulation.
At Stanford, Professor Rosston teaches classes that involve telecommunications and competition policy and strategy, and intellectual property. He has authored or coauthored a number of articles relating to Internet and telecommunications competition policy published in the Journal on Telecommunications and High Technology Law, the Federal Communications Law Journal, and the Journal of Law and Economics, among others. He has also coedited two books on telecommunications.
Our extensive network includes top experts from academia and industry.
Scott Wallsten
President and Senior Fellow,
Technology Policy Institute;
Senior Policy Scholar, Center for Business and Public Policy,
McDonough School of Business,
Georgetown University
Scott Wallsten specializes in industrial organization, regulation, and public policy issues. He has extensive expertise with topics related to information and communications technology, the economics of digitization, and spectrum markets and policy.
Dr. Wallsten testified in deposition and at trial in Sprint Corp.’s $3.6 billion buyout of Clearwire Corp. The Delaware Court of Chancery issued a favorable ruling for Sprint and cited Dr. Wallsten’s testimony on the value of Clearwire’s spectrum holdings, one of the major assets at issue in the transaction.
Dr. Wallsten has provided testimony before Congress multiple times on issues related to broadband, mobile technology, and internet access. He has also filed comments with the Federal Communications Commission (FCC), the Federal Trade Commission, and other U.S. and European agencies, and he has testified before the Canadian Radio-television and Telecommunications Commission.
In his research, Dr. Wallsten analyzes the economics of technological innovation and change, communications infrastructure, and associated regulation. He has contributed chapters to several books and published numerous articles in academic journals on topics such as spectrum auctions, spectrum valuation, broadband standards, net neutrality, and cable franchise and business data fees.
Dr. Wallsten previously served as economics director for the FCC’s National Broadband Plan. Other past positions include scholar at the Stanford Institute for Economic Policy Research and economist at the World Bank. Earlier in his career, Dr. Wallsten was a staff economist at the U.S. President’s Council of Economic Advisers in the Clinton administration.
Telecommunications, Media, and Entertainment Capabilities
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.
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.
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
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.
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.
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.
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.
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