WASHINGTON – The CEOs of AT&T and Time Warner are heading to Capitol Hill in a bid to convince senators that a merger of their two companies will mean innovative new experiences for consumers.
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They can expect a skeptical audience.
The CEOs, Randall Stephenson of AT&T and Jeffrey Bewkes of Time Warner, are due to appear Wednesday before a Senate antitrust panel whose Republican chairman and senior Democrat have said the proposed $85.4 billion merger of the communications giants would potentially raise significant antitrust issues.
Other critics range from industry analysts and public-interest groups to President-elect Donald Trump, who promised on the campaign trail that he'd kill the deal because it concentrates too much "power in the hands of too few."