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Time Warner CEO blasts “ridiculous” federal anti-trust argument

Time Warner CEO Jeff Bewkes with microphone

Time Warner CEO Jeff Bewkes said in testimony Wednesday that the government is "ridiculous" to argue a combined Time Warner/AT&T would seek to hurt AT&T’s cable and satellite competitors by denying them Time Warner content.

Why it matters: The heart of the Department of Justice’s argument in suing to block the proposed $85 billion merger for suing to block the merger is that vertically integrating AT&T (a content distributor) and Time Warner (a content creator) would give Time Warner incentive to withhold its content from AT&T’s competitors — or to jack up the price.