News corp in 2016 consolidating the directv acquisition

Stephenson called the deal “vertical” rather than “horizontal” and played down regulatory hurdles.

“There’s no competitor being removed from the marketplace, there’s no competitive harm that is being rendered by putting these two companies together,” said Stephenson.

Bewkes, who rejected an billion offer from Twenty-First Century Fox Inc () in 2014, will stay on for an open-ended period of time to help with the integration.The telecom and media sectors have been consolidating.In addition to Comcast's purchase of NBC Universal, AT&T's wireless rival Verizon Communications Inc is in the process of buying internet company Yahoo Inc for about .8bn.AT&T Inc has announced it has agreed to buy Time Warner Inc for .4 billion (€78.5bn), in the most significant move yet by a telecommunications company to acquire content to stream over its network to attract a growing number of online viewers.The biggest deal in the world this year will, if approved by regulators, give AT&T control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets.

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