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."

Comments

Everything's consolidating

[rsilvergun]

this is the inevitable consequence of out of control wealth inequality. When you let the rich have all the money they've got very little left to spend it on besides conquest. This is how it was for humanity for thousands of years. The last 100 or so were a fluke brought on by the rapid advance of technology. Stop it now or you'll never see that 'fluke' again.

Re:Everything's consolidating

[DMJC]

No the last 100 years were a fluke brought on by Two World Wars and a Great Depression which blew away all the wealth of the world and reset the system to a near 0 state. All the businesses and investments in Europe and Asia were toast. Australia was still an early society which hadn't matured/developed into a class structure system. The United States had been crippled by the Great Depression which wiped out most of the Elite's wealth leaving only a few wealthy people. The resulting economic boom from rebuilding from a 0 state was always going to be temporary without strong government intervention/market protections and the US completely dropped the ball on that. Most Western countries have completely lost the plot with wealth inequality and it's back to business as usual.

Re:Trump and Clinton

[AmiMoJo]

I know, right? Reporting the things he says and does. It's like they are /trying/ to destroy him.