Disney-Fox deal will give companies more incentive to merge: Fmr. Verizon CEO

By Media & AdvertisingFOXBusiness

AT&T-Time Warner deal will go through: Fmr. Verizon Wireless CEO

Former Verizon Wireless CEO Denny Strigl on the tax reform package's impact on corporate behavior, AT&T's deal for Time Warner, the implementation of 5G, self-driving cars and cyber security.

Former Verizon (NYSE:VZ) Wireless CEO Denny Strigl said the potential approval of mega-deals between AT&T (NYSE:T) and Time Warner (NYSE:TWX) as well as the Walt Disney Co. (NYSE:DIS) and 21st Century Fox (NASDAQ:FOXA) will give other media companies a greater incentive to merge.

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"Everybody needs scale," Strigl told FOX Business' Maria Bartiromo on Friday during an interview on "Mornings with Maria.”. "And certainly what this will create is more mergers, more acquisitions. I think we'll see more companies coming together."

While it remains unclear whether the proposed $85 billion deal between AT&T and Time Warner will go through -- the Department of Justice sued to block the merger, alleging that it violated antitrust laws -- Strigl is confident the DOJ will give its stamp of approval to the media giants, and to Fox and Disney. 21st Century Fox is the parent company of FOX Business.

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As far the next steps for other media companies, Strigl expects to see Comcast (NASDAQ:CMCSA) and NBCUniversal make moves, pointing out how Verizon should also consolidate.

"Verizon has made some moves [to consolidate]. I think they need to make more moves. My guess is they know they need to make more moves," Strigl added.

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