A group of more than 30 members of the United States Congress spoke out against the merger process between WarnerMedia and Discovery, and requested through a letter that the approval of the transaction, valued at USD 43 billion, must be carried out more rigorously by regulatory entities.
“In particular, the merger threatens to increase the market power of the combined company and substantially decrease competition in the media and entertainment industry, hurting both American consumers and workers“, the document presented by congressmen, with a Democratic majority, explained. “In light of these concerns, we respectfully urge the Department to conduct a thorough review of this transaction to ensure that it does not harm American consumers and workers by illegally damaging competition“, it also said.
The CEO of AT&T, John Stankey, pointed out that the argument of the representatives of the Democratic Party was “unfounded” and added: “We are a large company, we are in many businesses. There is nothing unusual in this transaction“. Meanwhile, the companies continue to await approval of the merger, which, if enabled, will bring HBO Max and Discovery+ together under the joint control of Warner Bros. Discovery.