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AT&T Buys Time Warner For $85B. Is The Mass Media Consolidating? (reuters.com)
Though regulators may not agree, "Time Warner and AT&T reps claim this is necessary just to compete," warns Mr D from 63. Reuters reports: The tie-up of AT&T Inc and Time Warner Inc, bringing together one of the country's largest wireless and pay TV providers and cable networks like HBO, CNN and TBS, could kick off a new round of industry consolidation amid massive changes in how people watch TV... Media content companies are having an increasingly difficult time as standalone entities, creating an opportunity for telecom, satellite and cable providers to make acquisitions, analysts say. Media firms face pressure to access distribution as more younger viewers cut their cable cords and watch their favorite shows on mobile devices. Distribution companies, meanwhile, see acquiring content as a way to diversify revenue.
The deal reflects "big changes in consumption of video particularly among millennials," according to one former FCC commissioner, and the article also reports that the deal "will face serious opposition." Massachusetts Democrat Edward Markey warned "we need more competition, not more consolidation... Less competition has historically resulted in fewer choices and higher prices for consumers..." And in a Saturday speech, Donald Trump called it " an example of the power structure I'm fighting...too much concentration of power in the hands of too few."
The deal reflects "big changes in consumption of video particularly among millennials," according to one former FCC commissioner, and the article also reports that the deal "will face serious opposition." Massachusetts Democrat Edward Markey warned "we need more competition, not more consolidation... Less competition has historically resulted in fewer choices and higher prices for consumers..." And in a Saturday speech, Donald Trump called it " an example of the power structure I'm fighting...too much concentration of power in the hands of too few."
Trump has already said he will oppose the merger and even wants too undo the Comcast Universal merger, though I doubt he can.
Hillary OTOH is waiting to see how much AT&T will cough up.
Exactly. We should trust our betters that know what we need and make sure that bad things like populism never happen here. Imagine if the ignorant and deplorable people were allowed to take over the government. It would be the end.
In 10 years : WalmartGoogleExxonAppleGoldman buys AT&TimeWarnerGeneralElectricsVerizon for $85T