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"Last week, the US Justice Department filed a lawsuit in order to block a merger between the two giant telecommunication companies Time Warner and...

"Last week, the US Justice Department filed a lawsuit in order to block a merger between the two giant telecommunication companies Time Warner and AT&T. According to the Financial Times, the Trump administration is blocking the merger to pressure the sale of CNN.
One person told the Times, “It’s all about CNN.” Should Time Warner sell off CNN, Trump would reportedly allow the deal to go through.
The Time Warner-AT&T merger has been in the works for over a year. The deal would see AT&T, whose total assets exceed $400 billion, buy Time Warner for $85.4 billion. This would result in the largest vertically integrated content and distribution company in the world.
The proposed merger would follow several years of record-breaking mergers and acquisitions, with 2015 being the largest year on record for such deals. These huge combinations of giant corporations reflect the strained character of the real economy. While the stock market has soared, actual economic growth outside of the tech disrupters, such as Amazon and Google, is negligible. Unable to achieve substantive growth, companies scale into enormous conglomerations to weather low profits.
The merger would exacerbate the concentration of power within the telecommunications and media industry. Currently, both Time Warner and AT&T are pushing to overrule net neutrality regulations, a move which would pave the way for widespread government and corporate censorship of oppositional news and analysis.
The Trump administration’s opposition to the merger, however, is not based on these concerns. While Trump has previously stated he would reject the proposed merger, because of the large monopoly it would create, the article from the Financial Times exposes his real reason: Trump seeks to retaliate against CNN."- READ MORE:
01/12/2017
1 Comment:
Carolyn McLure Milby
29-11-2017, 01:24:19
We're already screwed!

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