Rockefeller formed a trust in order to allow his business to grow even larger. In today’s world, many companies that you think are independent are in fact owned and controlled under one big umbrella operated by a single corporation (Viacom, AOL-Time-Warner, Clear Channel). Is it fair for one business player to control many separate entities, gobbling up such a huge portion of the market, and conclusively making it increasingly difficult for smaller independent companies to flourish and grow? On the other hand, are these huge conglomerates just being smart in the world of capitalism, the economic model our country has prided itself on?
As a result of a suit filed in 1974 under the Sherman Antitrust Act, the American Telephone and Telegraph (AT&T) monopoly was broken up in 1982. Recently AT&T proposed a $39 billion takeover of T-Mobile, but the U.S. Justice Department said the combination of the country’s second- and fourth-largest wireless carriers would violate antitrust law and “substantially lessen competition”.
ASSIGNMENT: Answer the following Poll about the proposed AT&T and T-Mobile merger: