But what's happened in the aftermath of Comcast's 2011 purchase of NBCUniversal may cast a shadow over AT&T's deal.
Big media distributors such as AT&T, which owns DirecTV and delivers movies and TV shows to 100 million subscribers of its wireless, internet, and video services, have argued for years over which can best withstand the disruption brought about by online services like Netflix: Content providers?
Critics are comparing this deal to Comcast's merger with NBC Universal. Entertainment-whose properties include HBO and Cinemax, CNN, TBS, TNT, and more. AT&T has suggested it may also zero-rate its upcoming live-streaming DirecTV Now service, which doesn't require customers to install a dish on their homes.
Wheeler also backs another step that could undermine data access for internet service providers, as he tries to open the way for a competitive market for set-top boxes that's now dominated by cable, satellite TV and Verizon's FiOS and AT&T's U-verse lineups of pay channels.
AT&T is purchasing Time Warner with a combination of cash and stock. Time Warner's HBO previous year rolled out an online version of its service for people who don't pay for cable.
Number two: Marcus was the CEO of Time Warner Cable. The online TV service is expected to launch in 1Q17.
An FCC review-focusing on whether the deal is in the public interest-would subject it to a broader and potentially tougher examination than the antitrust review that already is expected by the Justice Department.
AT&T distributes digital content through its land line and wireless networks, and through DirecTV, the satellite television company it bought a year ago.
This history of mega-mergers has taught students of business one thing: Nobody ever benefits aside from the shareholders of the company being purchased.
Asked for comment on the proposed FCC action, Washington-based AT&T spokesman Michael Balmoris said in an email, "we look forward to reviewing" rules once adopted.
If the deal with AT&T closes, Time Warner might follow suit and finally drop its confusing name.
Sanders then explained how the merger would affect the average consumer.
"This merger represents a gross concentration of power that runs counter to the public good and should be blocked", Sanders wrote.
But over the next few weeks, Time Warner Cable's stock never got within 11% of the value of Comcast's offer of $158.82 per share. After announcing the deal over the weekend, AT&T filed a special statement with the US Securities and Exchange Commission on October 24 to clarify that it was Time Warner it was interested in buying, and not the much maligned Time Warner Cable.
Before it's here, it's on the Bloomberg Terminal.