AT&T is buying HBO & CNN parent company Time Warner for $85bn
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.
No comments:
Post a Comment