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In the February 13th edition of the Wall Street Journal, Professor Thomas W. Hazlett offers a breathless endorsement of market concentration with the T-Mobile acquisition of Sprint, his go-to example. Apparently, mergers and acquisitions benefit consumers because they enhance competition and generate all sorts of positive outcomes that could not possibly have occurred but for the reduction in the number of industry players. ....
On The Reason Roundtable, editors tear into recent arguments by the Federal Communications Commission in favor of revoking Fox News' broadcast license. ....