Al Franken calls out AT&Ts shady attempt to acquire Time Warner
Source: Raw Story
Thirteen Democratic Senators sent a letter out on Wednesday night to AT&T and Time Warner asking that they explain how their $85.4 billion merger will benefit customers. AT&T has reportedly attempted to avoid a Federal Communications Commission review of their purchase.
The letter, signed by Senators Al Franken, Bernie Sanders, Ron Wyden, and Cory Booker among others, is addressed to Jeffrey Bewkes and Randall Stephenson, the CEOs of Time Warner and AT&T.
The letter notes that the companies are structuring the merger in a way that avoids scrutiny by the Federal Communications Commission (FCC). In doing so, AT&T and Time Warner will circumvent the FCC merger and acquisition review standard, which requires that the parties demonstrate on the public record that the proposed deal would serve the public interest by, among other things, improving access and affordability of telecommunications services, promoting the diversity of ideas, and ensuring the free exchange of information.
The Senators called on the companies to release a public interest statement that would detail how the merger would benefit customers, while also promoting market competition. The letter notes that this is in favor of achieving greater transparency for regulators, lawmakers, and American consumers.
Read more: http://www.rawstory.com/2017/01/al-franken-calls-out-atts-shady-attempt-to-acquire-time-warner-prove-this-serves-the-public-interest/
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