US senators on Wednesday raised new questions about AT&T’s proposed $85 billion acquisition of Time Warner, suggesting the deal could face more pressure at a time of growing concentration in many businesses and an era of surging populism.
Lawmakers on the right and left raised concerns, some even suggesting the deal might simply be too big and complicated for the government to police.
“Shouldn’t we be concerned” that the conditions necessary to approve the deal “might not be followed?” Sen. Mike Lee (R., Utah), who chairs the Senate antitrust subcommittee, asked at one point at a hearing on the proposed merger.
Mr. Lee also worried that the government wouldn’t have the legal ability to regulate large parts of the combined company because of antiquated laws.
Others suggested consumers could suffer new harms from the deal at a time when voters are showing their displeasure with big business as well as big government.
Full Content: The Wall Street Journal
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