US senate to hold hearing on proposed AT&T acquisition of Time Warner

Washington, Oct 24: The US Senate committee on antitrust will carefully examine an acquisition of Time Warner Inc by AT&T Inc., Fox Business reported on Sunday.

AT&T agreed on Saturday to buy Time Warner for $85.4 billion, Xinhua news agency reported.

US Senator Bernie Sanders said in a statement that President Obama administration should kill the Time Warner/AT&T merger, adding that this deal would mean higher prices and fewer choices for the American people.