Senator Blumenthal Demands Scrutiny Of AT&T-Discovery Deal

“Recent lax antitrust enforcement has allowed a dramatic consolidation in the media market that is driving up prices and limiting consumer choice,” Democratic Senator Richard Blumenthal wrote in an emailed statement.

“Television viewers and sports lovers deserve more choices about how they get their entertainment, better competition over services, and lower prices” the statement continued.  “I expect that antitrust enforcers will fully and fairly review this deal to protect consumers’ interests”

The transaction will combine WarnerMedia’s content library of sports, news and family entertainment, with Discovery’s trove of local-language content and regional expertise from more than 200 countries. Content plans for the new company include an expanded library of original shows, enhanced programming options, and innovative video experiences and consumer choices.

AT&T CEO John Stankey said WarnerMedia and Discovery have “complementary content strengths” and the merger makes the new entity in a position of being among “leading global direct-to-consumer streaming platforms.”

“AT&T shareholders will retain their stake in our leading communications company that comes with an attractive dividend. Plus, they will get a stake in the new company, a global media leader that can build one of the top streaming platforms in the world,” Stankey added.

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