Big Law
The AT&T CEO Defends the Controversial $43 Billion WarnerMedia-Discovery Merger
A major consolidation in the media world could be at risk if the Department of Justice heeds the call of Democratic lawmakers, but the executives behind the deal appear unconcerned.
AT&T CEO John Stankey said that Congress members’ fears of reduced competition for media workers, particularly among Hispanics, was “unfounded.” Discovery CEO David Zaslav has also brushed off concerns that the merger would stifle competition.
AT&T currently owns WarnerMedia but is seeking to spin it off to focus on 5G and telecommunications.
Speaking at UBS’s Global TMT Conference on Monday, Stankey added that “I’ve seen nothing in this process that is out of pattern or out of skew,” and that he is confident in AT&T “navigating through that.”
