Thomas Gryta

AT&T Chief Executive Randall Stephenson made an $85 billion wager in Oct that would turn the giant telephone company into one of the world’s biggest media companies by swallowing Time Warner. The same day, Donald Trump told supporters in Gettysburg (PA) he would block the deal if elected president. “It’s too much concentration of power in the hands of too few,” he said, calling the merger “an example of the power structure I am fighting.”

Few companies had more at stake in the presidential election than AT&T, which expected Hillary Clinton to be in the White House, said one former AT&T executive in Washington. Other businesses in a similar position are watching to see if the merger survives a still-undefined Trump administration. For the telecommunication industry, President-elect Trump could usher in an era of deregulation, a change from what many companies viewed as a strong-arm era under President Barack Obama. Yet President-elect Trump’s talk on the campaign trail about crushing the AT&T deal has left executives, lobbyists, bankers and others wondering what his view will be from the White House.

AT&T’s blockbuster deal promises to reshape the media landscape—if the companies can navigate a series of obstacles, including possible opposition from US antitrust authorities and objections by lawmakers and media and telecom rivals.

Even before the deal was announced, members of Congress, industry groups and Republican presidential nominee Donald Trump began to question it, contending the combination of AT&T’s millions of wireless and pay-television subscribers with Time Warner’s stable of TV networks and programming would limit competition and hurt consumers. Trump said if elected he wouldn’t approve the deal “because it’s too much concentration of power in the hands of too few.” Sen Bernie Sanders (I-VT) called on the Administration to block the merger. Sen Tim Kaine (D-VA), the Democratic nominee for Vice President, said he shared the “concerns and questions” raised by Sen. Al Franken (D-MN) that the deal could lead to higher costs and fewer choices. “Pro-competition and less concentration, I think, is generally helpful, especially in the media.” The Justice Department and Federal Communications Commission both declined to comment.

After spending nearly $50 billion in the summer of 2015 to acquire DirecTV, AT&T is preparing to roll out an internet video service that could upend its satellite-television business along with the rest of the pay-TV industry.

The service, called DirecTV Now and expected to launch by year-end, will stream dozens of live channels to televisions and mobile devices without the need for a satellite dish, cable box or annual contract. Unlike Netflix or Hulu, this over-the-top service is intended to provide a full cablelike lineup for households. AT&T executives aren’t concerned that a lower-priced internet video service—observers expect around $50 a month—could eat into its existing TV business, which had 25.3 million subscribers who paid an average monthly bill of $117 in the latest quarter. “That means you have found something that the market really, really wants,” Chief Executive Randall Stephenson said.

Sprint and T-Mobile US recently said they would scrap data caps and give customers a simpler option: unlimited everything at a single price. But the plans had restrictions. Days later, both carriers unveiled “premium” unlimited plans that cost $20 to $25 more a month. And even those had limitations.

“The truly unlimited plan doesn’t yet exist,” said Fredrik Jungermann, managing director of Tefficient, a telecom analytics firm. If the carriers sold unlimited plans without restrictions, “they might get users that would use hundreds of gigabytes a month or even thousands, and they wouldn’t get even a single dollar more for them.” The latest round of unlimited offerings highlights the tactics carriers use to win customers in the competitive wireless market, and the maze of fine print that can catch consumers off guard. The new plans don’t have a hard ceiling on usage, but put restrictions on everyday behaviors.

The wireless price war may have reached detente. After years of slashing prices, offering stunning promotions and undercutting each other to grab new subscribers in a market that has reached near saturation, the four largest U.S. wireless carriers have reported second-quarter results that suggest prices have stabilized. Some operators are even talking about how price rises could be in the future. For all carriers, the average revenue per user, a metric used to calculate how much the carriers earn from their subscribers, has plateaued after dropping steadily since late 2013, according to data from UBS Group AG. In the second quarter, the metric fell to $50.20, down from $60.70 in the third quarter of 2013, but only down slightly from $50.40 in the first quarter, according to UBS data. The stabilization of pricing comes at a time when carriers are facing big investments and slowing revenue growth.

T-Mobile US' Chief Financial Officer Braxton Carter called a $15 billion takeover proposal from French wireless company Iliad "inadequate," but hinted that his company may be open to a higher offer.

Carter said that Iliad's late-July offer to buy 57% of T-Mobile US was "very flattering" but "a very inadequate value proposition." But, he added, "I think rarely people come with their best bid to start."

America's heartland wants its RFD-TV. Fans of shows like "Classic Tractor Fever" and "All-American Cowgirl Chicks" are flooding regulators in Washington with their concerns about the potential hazards of media consolidation, specifically involving two proposed mergers.

Close to half of the thousands of letters submitted to the Federal Communications Commission as it reviews Comcast's proposed takeover of Time Warner Cable and AT&T 's planned acquisition of DirecTV come from viewers of RFD-TV, a rural-focused channel owned by independent programmer Rural Media Group. Viewers express worry that the media and cable consolidation will be bad news for RFD-TV and its programs on horsemanship, grain prices and country music.

Apparently, T-Mobile US denied Iliad’s request for access to the US telecommunications provider's books after determining that the French company's proposed $15 billion bid wasn't strong enough.

Billionaire Carlos Slim's move to pare his telecom empire in Mexico is raising questions about what his intentions might be north of the border. The company's TracFone unit offers prepaid-mobile service and is the fifth largest US wireless provider, selling service under seven brands, including the Straight Talk brand sold at Wal-Mart Stores.

TracFone continues to grow via a string of acquisitions of small, prepaid carriers and provides Slim with a brand and a US foothold should he choose to expand. The business now rents space on networks from big carriers like AT&T and Sprint. With the continuing consolidation of the US telecom market, it is unclear if Slim would want to take a larger role in the business.

Online retailer Amazon.com is expected to reveal its first smartphone, featuring a display designed to respond to users' eye movements and capable of displaying three-dimensional images.

The device is Amazon's first foray into the highly competitive market dominated by Samsung Electronics and Apple. The handset business can be very unkind; once-highflying brands like Nokia, Motorola and BlackBerry have seen their market share erode.

Amazon invited developers, media and others to its event. Amazon will enter the fray with a powerful partner. AT&T will be the exclusive carrier, according to people familiar with the Seattle company's plans.

The arrangement extends Amazon's relationship with AT&T, which also provides wireless service for Kindle tablets and e-readers. The move could help AT&T attract new subscribers at a time of intense competition among wireless carriers.