*By Michael Teich* Big-time media mergers have renewed a policy debate in Washington over how much corporate control in a few powerful hands is too much, said Axios tech reporter David McCabe. By rejecting the Justice Department's antitrust argument against AT&T's $85 billion deal for Time Warner, a federal judge may have redefined the rules of competition in an age defined by broadband internet, streaming video, and a flood of new content. The government unsuccessfully argued that the combined companies would unfairly hurt video competitors. Instead, the judge's approval of the merger may pave the way for AT&T to better defend against new content players such as Facebook, Google, and Netflix. "Over time we may see an internet experience controlled by a shrinking number of companies," McCabe said Wednesday in an interview with Cheddar. AT&T's acquisition of Time Warner is expected to lead to an increase in media mergers and acquisitions. McCabe said the deal is the "green light," especially for vertical deals combining companies that are not direct competitors. "It’s an extra jolt of confidence to executives who are looking to make a deal in this space without the regulatory friction," McCabe said. For the full interview, [click here](https://cheddar.com/videos/at-and-t-deal-raises-worries-of-internet-oligarchy-2).

Share:
More In Business
Tesla’s profit fell in third quarter even as sales rose
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Load More