The plan by AT&T to acquire Time Warner for US$85.4 billion has come under the microscope of U.S. politicians and public interest groups that are concerned about the antitrust implications of the mega-deal.On Saturday, Randall Stephenson, AT&T chairman and CEO, said the deal would let it combine premium content with the networks to deliver it to every screen, including mobile displays.But many politicians including Democratic party presidential candidate Hillary Clinton and her Republican rival Donald Trump are concerned about the implications of the deal.U.S. Senators Mike Lee, a Republican from Utah, and chairman of the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, and ranking member Amy Klobuchar, a Democrat from Minnesota, said they will hold in November a subcommittee hearing on the proposed acquisition.“We have carefully examined consolidation in these industries to ensure that existing market leaders do not block or co-opt new options for receiving video content or exercise disproportionate control over the video content market,” the senators said Sunday. “We will continue to carefully review and investigate any consolidation in this industry to makes sure that it does not harm consumers.” There is concern that as the owner of pipes to the consumer such as DirecTV,… Read full this story
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