AT&T could create media division after Time Warner merger: report

AT&T chief executive Randall Stephenson (L) and Time Warner chief executive Jeff Bewkes defend the proposed mega-merger of t
AT&T chief executive Randall Stephenson (L) and Time Warner chief executive Jeff Bewkes defend the proposed mega-merger of the companies at a 2016 conference

Telecoms giant AT&T is likely to create a separate media division upon completion of its planned merger with Time Warner, the Wall Street Journal reported Friday.

According to the daily, longtime AT&T executive John Stankey would be placed in charge of the Time Warner business while Randall Stephenson, the current chairman and chief executive at AT&T, would keep the title of chairman of the merged entity.

Asked about the report, AT&T said no decisions have been finalized on the management structure of the group after the merger, which remains subject to regulatory approval.

AT&T said Stephenson "will remain and of AT&T after we close the Time Warner deal."

The tie-up still faces considerable opposition from some lawmakers and consumer groups, who contend it would give too much control to a single entity in the field of broadband and raise potential conflicts of interest for online services.

President Donald Trump said during his 2016 campaign that he opposed the pending merger, which was announced in October. But he has been mum on it since the election.

Some analysts argue, however, that the deal would create an entity sizeable enough to compete with tech industry giants who are now the "gatekeepers" for content on the internet, such as Apple, Google, Microsoft, Amazon and Facebook.


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Citation: AT&T could create media division after Time Warner merger: report (2017, July 14) retrieved 13 October 2019 from https://phys.org/news/2017-07-att-media-division-warner-merger.html
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Jul 14, 2017
This is the very definition of the absolute need of anti-trust laws to prevent this. We were warned in the late 1800's of malefactors of great wealth controlling us by buying our politicians. The Hobby-Lobby decision is making a mockery of democracy in this nation by amplifying the effects of monopolies' exploitation of unitary continental and now worldwide control for predatory accumulation of capital and resources....greed and avarice.

Forget Russia! Look at these oligarchs wanting to split the world between them. When they get big enough to buy the law in a place, these monsters are demonstrably capable of murder, genocide, slavery of masses of people, torture and more. Look at the record of outfits like the 'United Fruit Company' in Central America for the last 100 years.

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