AT&T faces an uphill battle to convince US regulators that its proposed $85.4bn purchase of Time Warner will not unfairly distort the media and communications industries after opponents of the deal said the combined entity would wield too much market power.
America’s largest telecoms group by market value announced on Saturday it would pay $107.50 a share for the owner of CNN, HBO, which produces Game of Thrones and Veep, and Warner Brothers, Hollywood’s largest film and television studio.
But the deal sparked immediate opposition over the weekend and looks set to be one of the first and biggest tests of the next president’s antitrust policy.
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