Media analysts warn that a proposed merger between AT&T and Time Warner is more likely to enhance corporate bottom lines and pad the pockets of Wall Street investors than benefit consumers.
“Big mergers like this inevitably mean higher prices for real people, to pay down the money borrowed to finance these deals and compensate top executives,” said Matt Wood, policy director at Free Press, an NGO that protects net neutrality and online press freedom, in an Oct. 22 press release.
The media first reported that AT&T was in “informal” talks to merge with Time Warner on Oct. 20. By Oct. 24, AT&T announced that Time Warner had agreed to be bought out by the telecommunications giant for $85.4 billion.
