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Time Warner C.E.O. Testifies That AT&T Merger Is Needed to Battle Silicon Valley

Mr. Bewkes testimony came as the trial that will decide the fate of AT&T’s bid for the company enters its fifth week. The trial is being closely watched for the implications it could have on the course of antitrust policy and for how it could shape the landscape of entertainment as legacy media and telecom companies scramble to bulk up against new competition from Silicon Valley.AT&T’s chief executive, Randall Stephenson, is expected to testify as soon as Thursday. John Stankey, the AT&T executive who is poised to run Time Warner after the merger, also began testimony on Wednesday afternoon. Arguments are expected to close as early as…

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