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If AT&T swallows Time Warner, who might be gobbled up next?

If AT&T swallows Time Warner, who might be gobbled up next?

Wall Street gave a cool reception Monday to AT&T’s plan to buy Time Warner Inc., illustrating sharply divergent views on whether the blockbuster deal will usher in a new era of media consolidation or merely more scrutiny from federal regulators.

But the uncertainty didn’t stop some analysts from speculating about various combinations that could transform the media business — tantalizing pairings of tech giants with studios, and cable companies with wireless carriers.

A motivator for more deal-making: survival. Traditional media companies are girding for battle with tech powerhouses Google, Facebook, Apple and Amazon.com. Amazon and Netflix already...

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