Big gulp.

It’s official: media giant AT&T has acquired media giant Time Warner, stuffing it in the same acquisition bag with DirecTV, which deal was consummated earlier this year. The new deal is not without its hurdles, however: AT&T is carrying a large debt load with relatively little cash on hand, and the deal is certain to get the attention of the trust-busters at the DOJ. As the New York Times reported, “The merger is met with skepticism by industry analysts and outrage by consumer groups, who complain that it would thwart competition, create unfair pricing, and insight more media consolidation.” Editor’s fearless prediction: Unfortunately, in today’s big-business-friendly climate, the deal will probably go through. I am as pro- business as the next capitalist, but we have become a nation of giants, leaving us small business people scurrying around underfoot, trying with all our might not to get stepped on.