Economic Perspectives

Uncertain media future

Print edition : November 25, 2016

AT&T CEO Randall Stephenson and Time Warner Inc. CEO Jeff Bewkes discuss their proposed merger at the WSJD Live conference in Laguna Beach, California, on October 25.

A scene from "Game of Thrones". This popular TV serial is owned by Time Warner through its company HBO. Convergence of content and distribution can encourage anti-competitive practices; for instance, a content provider with exclusive assets can enter into special agreements with the distributor it is merged with.

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