AT&T and Time Warner Merger Draws Concerns

AT&T's $85.4 billion deal to buy Time Warner is likely to face intense regulation. Politicians, lawmakers and Wall Street all voiced their concerns over the weekend after the merger announcement. 

Fortune reports, the merger would be the 11th biggest buyout of any kind since 1995 and the third-largest media buyout.

According to Reuters the merger may be approved without an FCC review, but AT&T said the deal would need approval of the U.S. Justice Department. Reuters says Time Warner only has one FCC-regulated broadcast station, WPCH-TV in Atlanta and TIme Warner could sell the license to avoid an FCC review.

AT&T says consumers will benefit from the buyout. AT&T says customers will see a competitive alternative to cable, more choices and better value.

Stocks of both companies fell after word got out about the merger.