Tuesday, November 25, 2014

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Comcast, Time Warner Cable field questions from Senate committee about deal

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CNY/NNY/S. Tier: Comcast, Time Warner Cable field questions from Senate committee about deal
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The proposed merger of Time Warner Cable, the parent company of Time Warner Cable News, and Comcast took center stage today in Washington, D.C.

Executives from both companies were selling the proposed merger before the Senate Judiciary Committee.

The $45 billion deal was first announced in February.

The Judiciary Committee has no formal role in approving the merger, but views of senators could shape public opinion as the Justice Department and Federal Communications Commission decide whether to approve the proposal.

Yesterday, Comcast filed documents with FCC. They say the deal is good for consumers and it will not diminish competition.

Still, consumer watchdogs oppose the deal, showing concern over the number of broadband subscribers that Comcast would have, should the merger be approved.

"If you control access to broadband, you can control the competition for high definition streaming video for instance. That's what the dispute between Comcast and Netflix was about. If you can control that many eyeballs then you can raise their cost which is what they did to Netflix," said Mark Cooper, of Consumer Federation of America.

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