*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).
Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, this is normal.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
