AT&T chief executive officer Randall Stephenson and Time Warner chief executive officer Jeff Bewkes are expected to testify this week in the companies’ antitrust battle with the government.
The Dallas-based telecom is trying to acquire the New York media and entertainment company in a deal that’s valued at nearly US$109 billion, including debt. The merger would turn AT&T into a media powerhouse by combining its wireless, cable and satellite businesses with Time Warner’s TV and movie content, including CNN, HBO and Warner Bros. Studios.
The Justice Department sued to block the merger, saying AT&T would use Time Warner programming as “a weapon” to drive up rates for TV competitors and ultimately, raise prices for consumers.
Full Content: New York Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
