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AT & T's CEO Stephenson Pitch's Time Warner Deal to Judge



Randall Stephenson, Chief Executive Officer of AT & T Inc., commented on the company's planned acquisition of Time Warner Inc., describing the $ 85 billion business as a crucial step for the judge to determine the fate of the company Deal in his hands [196592002] Stephenson, who has stepped up his defense of the deal by selling it to his board and then to shareholders, testified on Thursday before the federal court in Washington that the merger would competing companies with streaming rivals Netflix Inc and Amazon.com Inc.

The CEO of AT & T began his testimony by describing his 35-year history in the company. He got his first job at Southwestern Bell Telephone, where his brother was an installation technician. He went on to describe AT & T's history of investment and innovation.

"If you miss a technology cycle in this country, it can not kill you, but it will make you sick for a very long time," said Stephenson, 57, interviewed by AT & T senior attorney Daniel Petrocelli and Time Warner

The CEO of AT & T was the last defense witness to support his case.

The Department of Justice produced numerous witnesses over several weeks, including executives of AT & T competitors trying to show the merger, harming competitors and ultimately the public. The agency seeks to prevent the takeover as AT & T, the largest pay-TV provider in the US, raises prices for consumers and restrains content from other merchants.

"Absurd Premise"

"The premise is absurd," Stephenson said.

US District Judge Richard Leon, who had already expressed some skepticism about the government's case, opened an arbitration tribunal at the end of Stephenson's testimony, in which he considered changes to the Time Warner Arbitration as a better option than the deal to block. [1

9659012] Dallas-based AT & T and Time Warner, who are contesting the government's claim that prices will rise, have offered pay-TV companies binding mediation if negotiations come to a dead end. The judge asked other witnesses about the proposal.

Stephenson has conceived the merger as the logical next step for an innovative inventor in a rapidly changing industry that will drive the next stage of AT & T development in media and advertising. He said the company haunted Time Warner after first trying to win smaller companies like a "string of pearls" – a strategy that was considered too slow.

Premium TV

Time Warner from New York On the other hand, AT & T offered the premium content it needed to compete with Netflix and Amazon, attracting viewers and more targeted ads based on their interests and interests Habits of users for sale.

In August 2016, Stephenson convened a meeting with Time Warner CEO Jeff Bewkes, where a "short lunch turned into a long afternoon" when the two men's ideas came together. Bewikkes testified on Wednesday at the trial.

"It met all the needs of the strategy we wanted to pursue," said Stephenson.

Stephenson had quick answers to any question about the value of the merger and how the combined company could work with its competitors, according to an investigation by Justice Secretary Craig Conrath. There were no "gotcha" questions that charged him with baffled or surprising documents.

Stephenson admitted under Confrath's survey that companies like Netflix and Amazon rely on broadband networks like AT & T to deliver their content to consumers, presumably to show that AT & T could discriminate against its competitors for its own content to prefer.

The process, now in its fifth week, will continue with a refusal phase by the US and finally final claims. The Justice Department on Thursday called on an expert to dispute the AT & T claim that the merger would lead to cost savings that could be passed on to consumers.

John Stankey, responsible for the integration of Time Warner AT & T, addressed some of the price concerns raised by the government. He said during his testimony that the company is working on a previously unannounced cheaper video plan for DirecTV Now customers. Subscribers would soon be offered a $ 15-per-month online video package that does not include sports, he said.


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