UPDATE 1-AT&T CEO Stephenson says Time Warner deal needed in content-dependent world
April 19, 2018 at 18:56 PM EDT
WASHINGTON, April 19 (Reuters) - AT&T CEO Randall Stephenson said on Thursday his company's bid to buy movie and TV show maker Time Warner would allow the two firms to serve customers better by lowering pay TV rates, rejecting government arguments the deal would raise consumer prices.