AT&T/Time Warner and Antitrust Policy Toward Vertical Mergers

By Gregory S. Crawford, Robin S. Lee, Michael D. Whinston & Ali Yurukoglu

The AT&T/Time Warner merger offers a unique opportunity to assess the criteria that in practice may be applied to vertical merger cases when litigated, and also to consider appropriate policy toward such mergers. We first discuss economic theory and evidence regarding vertical mergers, and describe a recent empirical study of ours examining the effects of vertical integration between regional sports networks and multichannel cable distributors. We next consider the lessons to be gleaned from the AT&T/Time War

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