In October, AT&T reached an agreement to buy Time Warner for more than $85 billion. AT&T argues that Time Warner and its premium content, which includes HBO and CNN, would complement its distribution network, rather than create an unduly large giant in the media space.
During a Wednesday conference call with investors and analysts, Stephenson explains that the company has been heavily investing in its network to prepare for "a world where mobile technology and premium video content would intersect." That's a future that AT&T has long considered "inevitable," Stephenson said.
Stephenson said it was the logical next step for AT&T to position itself for that future, aiming to become the "premier integrated communications company in the world." He explained that AT&T wanted to "have the foundation laid" ahead of time to make that intersection a "very different experience for our customers."
Signed by Sens. Al Franken, Elizabeth Warren, Bernie Sanders, Cory Booker and others, the letter asks for a "public interest statement detailing how you plan to ensure that the transaction benefits consumers, promotes competition, remedies all potential harms, and further serves the public interest through the broader policy goals of the Communications Act."