Senate Dem calls for scrutiny of reported Verizon merger

Senate Dem calls for scrutiny of reported Verizon merger

Sen. Amy KlobucharAmy Jean KlobucharWill Bernie have to turn on his bros? Democratic rivals sharpen attacks as Bloomberg rises Klobuchar says English should not be US national language, reversing from prior vote MORE (D-Minn.), the ranking member of the Senate Judiciary antitrust subcommittee, said that a potential merger between Verizon and Charter would raise red flags for regulators.

“As Ranking Member of the Antitrust Subcommittee, I have fought hard to promote competition across a broad range of industries and sectors — including media and telecom — because competition protects consumers and fosters innovation,” Klobuchar said in a statement. 

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“A potential acquisition of Charter by Verizon would raise concerns about its potential impact on consumers across our country and would merit close scrutiny by regulators and the subcommittee.”

On Thursday, The Wall Street Journal reported that Verizon and Charter officials have met to explore the possibility of a deal. Verizon’s market cap is $199 billion, while Charter is valued at $80 billion.

It’s unclear how such a deal would be viewed by President Trump, who spoke out harshly against the proposed AT&T-Time Warner merger in October but has since indicated that he’s willing to soften his stance and tapped a number of pro-industry figures for his administration.