FCC Chief Puts the Kibosh on AT&T/T-Mobile Merger

[Walter Cronkite]

FCC chairman, Julius Genachowski, issued a draft statement yesterday lashing out against AT&T's proposed acquisition of T-Mobile, calling its concentration of the wireless market contrary to the public interest. He's also requested an administrative hearing, placing the onus on AT&T to prove the deal benign to wireless consumers.

AT&T called the draft statement "disappointing" while citing the economy's need for investment and job creation. Genachowski responded by pointing out neither is a guaranteed result of this merger.

Source: gizmodo.com