Read the report from AFP below...
AT&T's
$85.4 billion purchase of Time Warner represents a new bet on synergy
between companies that distribute information and entertainment to
consumers and those that produce it.
The acquisition would combine a telecom giant that owns a leading
cellphone business, DirecTV and an internet service with the company
behind HBO, CNN, and some of the world's most popular entertainment,
including "Game of Thrones," the "Harry Potter" franchise and
professional basketball. It's the latest big media acquisition by a
major cable or phone company — such as Comcast's 2011 purchase of NBC
Universal — and aimed at shoring up businesses upended by the internet.
Regulators would have to
sign off on the deal, no certain thing. The prospect of another media
giant on the horizon has already drawn fire on the campaign trail.
Speaking in Gettysburg, Pennsylvania, GOP presidential nominee Donald
Trump vowed to kill it if elected because it concentrates too much
"power in the hands of too few."
Sen. Al Franken, a Minnesota Democrat, said the deal "raises some
immediate flags about consolidation in the media market" and said he
would press for more information on how the deal will affect consumers.
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