AT&T and Verizon conflated controlling distribution with controlling demand and hence wasted billions by buying media businesses like Time Warner and Yahoo (Ben Thompson/Stratechery)

Ben Thompson / Stratechery:
AT&T and Verizon conflated controlling distribution with controlling demand and hence wasted billions by buying media businesses like Time Warner and Yahoo  —  Felix Salmon asked a question on Twitter:  —  While Salmon's question was driven by the news that AT&T would spin out WarnerMedia …

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