U.S telecoms firm AT&T wants to buy Time Warner-the company behind some of the most iconic heroes from Batman to James Bond. But will it actually happen?
CCTV America’s Owen Fairclough reports.
AT&T prepares for battle in Time Warner takeoverU.S telecoms firm AT&T wants to buy Time Warner-the company behind some of the most iconic heroes from Batman to James Bond. But will it actually happen? CCTV America’s Owen Fairclough reports.
AT&T wants to buy Time Warner which is owner of the iconic Hollywood Studio and 24-hour cable news channel CNN for just over $85 billion dollars. It would be the biggest deal of the year-if it happens.
On the face of it, there’s a simple logic to this takeover. More and more of us are watching TV and movies on our phones and tablets. AT&T provides the means to stream that content, so why not buy the company that makes it?
But investors aren’t confident the deal will go through-shares in both companies took a tumble on Monday.
They fear regulators will scuttle the deal over monopoly concerns.
AT&T insists it’s good for customers and competition. U.S. regulators have an uneven track record in approving media industry mega-deals.
In 2011, they permitted cable TV and internet giant Comcast to buy NBC Universal.
Comcast withdrew a subsequent bid to acquire rival Time Warner Cable after the U.S. Department of Justice threatened to file an antitrust lawsuit to block it. AT&T and Time Warner could soon be facing the ultimate adversary. AT&T hopes to wrap this up by the end of next year.
Eric Schiffer on the AT&T and Time Warner merger
For more on AT&T and Time Warner merger, CCTV America’s Rachelle Akuffo spoke to Eric Schiffer, tech Entrepreneur and CEO of The Patriarch Organization.