Mr. Randall Stephenson AT&T, CEO & Chair @ Senate Hearing about Time Warner's Proposed Merger with AT&T

The Senate Judiciary Subcommittee on Anti-Trust. Competition Policy and Consumer Rights aired on C-SPAN3 at the Dirksen Senate Office Building. Businesses who provides content and distributes content to various cable companies. Senator Al Franken a Democrat from Minnesota emphasized that television used to be free.  

We expect 5G to "accelerate," content distribution, stated Mr. Randall Stephenson, AT&T, CEO & Chair in a AT&T, "Direct Now was launched this week with no contract requirements." Will the merger have an effect on small telecommunication companies? 

Mr. Jeffrey Bewkes, Time Warner's CEO spoke that this "transaction is right for our company and good for consumers."  Mr. Bewkes stated that the company needs more distribution, like Direct TV,  for its content. Senator Orrin Hatch, Republican from Utah asked Mr. Stephenson if there would be gan "incentive" to raise prices for non- Time Warner content and if AT&T would slow down internet speed for non-Time Warner content. Mr. Stephenson, built his "franchise on a very open model. We want the content the consumer wants to read or watch. It would be "not a smart business move," to limit content to the consumer based on the content's source. HBO and Turner we try to make all of our channels ready for consumers to view on demand. 

NBA Dallas Mavericks owner Mark Cuban who also owned Magnolia Pictures, Landmark Theaters, Access TV and Audio Net, said, "Facebook is one of the dominate avenues of distribution for content," says Mr. Cuban. needed by consumers. Mr. Cuban increased his support of the merger by stating, "We need more companies with the ability to compete with Apple, Google, Amazon and Facebook." Senator David Perdue a Republican asked Mr. Cuban, about channel competition.  There is "more hope for independent networks like ours." Mr. Cuban stated.  His channel, Access TV is distributed on Direct TV, a subsidiary of AT&T. Mr. Cuban said 5G may remove wires from our homes. Perhaps, Direct TV, a subsidiary of AT&T will eliminate wires needed for faster downloading of content. 

Mr. Gene Kimmelman, Public Knowledge Consumer Advocacy Group, President & CEO stated at the Time Warner Proposed Merger Senate Judiciary Subcommittee on Anti-Trust, Competition Policy and Consumer Rights are good businesses for consumers."How many broadband providers? How many cable companies?" are there in the United States. He wants to "urge" the government to prevent the Time Warner AT&T merger. Listening to music and watching TV is safe with internet availability on phones and computers. 

Senator Mike Lee R-Utah, Senate Judiciary Subcommittee on Anti-Trust, Competition Policy and Consumer Rights Chair,  asked  Mr. Stephenson about the mergers potential influence on the consumer.  Mr. Stephenson said, "... by virtue of innovation we would be able to bring lower prices to the consumer." Time Warner campaign is to have "only one time" to pay for content that can be viewed on the consumers, phone, tablet, television or computer.  CSPAN3 says, "the Justice Department and the FCC must approve the merger."

Senator Amy Klobuchar, Democrat from Minnesota also questioned the panel of CEO's and entrepreneurs.  Mr. Stephenson stated, that AT&T is, "going head to head against the cable providers." 

Senator Richard Blumenthal, Democrat from Connecticut questions the merger and says, Mr. Donald Trump will block the merger. 

"We will continue to be a leading investor in America. " - Mr. Randall Stephenson, AT&T, CEO at Senate Judiciary Subcommittee on Anti-Trust, Competition Policy and Consumer Rights hearing.

Senator Thom Tillis, a Republican from North Carolina asked Mr. Mark Cuban about the future of telecommunications if the merger is approved by the Senate.  Mr. Cuban said in response to Senator Thom Tillis, there is "already consolidation." in the cable and telecommunications industry.  Facebook Live M. Mark Cuban who used Facebook Live today,  is now a content distributor in addition to a social networking platform. 

Section 5 of the Federal Trade Commission Act (FTC Act) (15 USC 45) prohibits ‘‘unfair or deceptive acts or practices in or affecting commerce,’’ read a FTC website.  "... for the most part current law requires companies to report any deal that is valued at more than $78.2 million to the agencies so they can be reviewed," stated ftc.gov.. 

Intelligent Luxury probably owns stock in a Time Warner company or any company we write about on this website.  Everything may be tied to an advertiser.  This merger has benefits and perhaps some drawbacks.  The drawback may be decrease in the number of companies delivery content, because we think Time Warner owns a cable company. Perhap, a cable package fee decrease will allow more money to support sponsors? We think consumers may benefit by having AT&T phones deliver content faster from cable channels.