When you first heard about AT&T buying Time Warner, you probably said “so AT&T’s buying Time Warner Cable, what’s the big deal?”
Well, no.
The four top lawmakers on the SEC committee sent an announcement about their upcoming hearing that said “Both Randall Stephenson, the CEO of AT&T, and Robert Marcus, the CEO of Time Warner, will testify”, according to a report from the Wall Street Journal. Their mistake? Robert Marcus is the CEO of Time Warner Cable, which was bought by Charter Communications recently. AT&T is buying Time Warner Inc., which owns HBO, CNN, Turner Sports and Warner Bros.
Jeff Bewkes is the guy you’re looking for, Senators.
The confusion prompted a SEC filing from AT&T, but it didn’t really work. A number of media outlets have wrongly used Time Warner Cable branding when reporting on the deal, according to Yahoo News.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
