In 2016, telecommunications company AT&T reached an agreement to buy TimeWarner, which owns cable networks, magazines, and
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In 2016, telecommunications company AT&T reached an agreement to buy TimeWarner, which owns cable networks, magazines, and a film studio. In an interview with the Wall Street Journal, the CEOs of the two firms “played down concerns that the deal wouldn’t get regulatory approval, again asserting that the deal is vertical in nature, rather than eliminating a competitor.”
a. What did the CEOs mean by saying that the merger was “vertical in nature”?
b. Why would federal antitrust regulators be less likely to oppose a merger that was “vertical in nature” than one that eliminated a competitor?
c. If the deal doesn’t eliminate a competitor, what do the firms hope to gain from it?
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a The phrase vertical in nature means that the proposed merger would be between two firms at d...View the full answer
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