Jeffrey L. Bewkes

AT&T and Time Warner hope to break the cycle of failed mergers

AT&T and Time Warner hope to break the cycle of failed mergers

AT&T’s blockbuster bid for Time Warner Inc. might be a boon for investment bankers, lawyers and lobbyists, but it is anyone’s guess whether investors, employees and consumers ultimately would benefit from the combination.

Since the $85.4-billion deal was unveiled last weekend, AT&T Chief Executive Randall Stephenson and Time Warner Inc. Chief Executive Jeffrey Bewkes have extolled the advantages of marrying the nation’s second largest wireless phone provider with a leading entertainment company, which owns such assets as HBO, CNN, TBS, Cartoon Network and the Warner Bros. film and TV studio in...

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