AT&T and Time Warner accidentally argue against their own merger

AT&T and Time Warner were called before Congress today to defend their upcoming $85 billion merger and they played all of the antitrust bingo words in the book. We heard a lot about “investment,” “competition,” and “innovation” in the two-hour session — but no reasons to believe that this merger is a necessary path to producing any of those things. And bizarrely, AT&T and Time Warner seem to have unwittingly argued against their need to merge.Tes