AT&T-Time Warner Deal Is a Strike in the Dark - The New York Times

Also see A Chilly Reaction to AT&T-Time Warner Deal (NYT)

"We are witnessing the emergence of a new order in the TV business. In five or 10 years’ time, that order may become clear. There’s a good chance it will involve some current players — Comcast, Disney and a merged AT&T and Time Warner will all play a role in the entertainment business of tomorrow. But these behemoths’ size and influence will almost certainly be diminished by new tech-powered players, whose pocketbooks and ambitions seem limitless — companies like Google, Facebook, Amazon, Apple, Netflix and possibly Twitter and Snap.

What’s scary for the incumbents is that at the moment, much of the future seems up for grabs, because consumer behavior is neither settled nor predictable. Even viewership of N.F.L. games is down this season. Down!"

AT&T-Time Warner Deal Is a Strike in the Dark - The New York Times