Time Warner
AT&T CEO Randall Stephenson said on Thursday his company's bid to buy movie and TV show maker Time Warner would allow the two firms to serve customers better by lowering pay TV rates, rejecting government arguments the deal would raise consumer prices. He shared details about a new streaming service called AT&T Watch, which will be launched soon.
The unusual venue meant that Stephenson did not elaborate on what channels will be included, but did say that the bundle will be so cheap because it would not include sports channels. The trial is being closely watched as a barometer of how the Trump Administration may treat mega-mergers, and for the implications of the case on antitrust policy and the entertainment landscape.
"Watch" is the latest example of a so-called skinny cable bundle, which costs less than a traditional cable package because it includes fewer channels.
AT&T declared that the chief interest of possessing Time Warner is that it can capture data about its 141 million United States wireless subscribers and 25 million video subscribers and join it with Time Warner's programming to sanction advertisers to aim TV ads. DirecTV Now currently offers four different streaming packages ranging from $35 to $70 a month for between 60 and 120 channels through one app on Apple TV.
He testified that AT&T does not want to stop innovation in streaming services and brought up the new skinny bundle. Even AT&T spokespeople present for the trial were unaware the announcement was coming.
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He said these kinds of services have an edge over players like Time Warner because they have more data on their consumers.
But Stephenson also acknowledged sending an email that expressed concern that Time Warner was taking a stake in the online service Hulu, apparently concerned that it would hurt AT&T's online product.
Some of Stephenson's handwritten notes from the period when he contemplated a merger in 2016 were entered into evidence, including a critical line that said the merger must create an advantage for AT&T's own content distribution without harming Time Warner's "need to be widely distributed" since the "value of a content company is how many people are watching".
It turns out the company alluded to this concept in a pretrial brief.
Free or low-priced bundles of cable channels are, in effect, a teaser for households that might otherwise not pay for cable TV at all.
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