Critics Hit At Comcast Corporation (NASDAQ:CMCSA) For Merger Transaction With Time Warner Cable Inc (NYSE:TWC)

Albany, New York (09/30/2014) – According to reports, a lot of small and medium size cable network providers hit back at Comcast Corporation (NASDAQ:CMCSA) after it called critics ‘extortionists‘ who were looking to shake it down. CMCSA executed a merger transaction with Time Warner Cable Inc (NYSE:TWC), for which it had to face anger of many other cable operators from all over the country.

Insights of the matter:

As per the reports, cable service providing companies like Discovery Communications, Dish and Netfix were called out by CMCSA in its filing event. These companies called CMCSA’s comment unprofessional and ridiculous immediately after the event. All the companies that were against this mega merger said that nobody could stop them from rising a voice as raising questions was their first amendment right. They also said that Comcast Corporation (NASDAQ:CMCSA) revealed its true color by intimidating on display in its FCC filing.

According to one of the cable service providers, CMCSA was acting like Tony Soprano, who killed his enemies and intimidated it to his friends. Comcast Corporation (NASDAQ:CMCSA) was a self-proclaimed market leader who didn’t act faithfully and stunned all the cable operators by commenting offensively. CMCSA fired both barrels at all those critics who spoke against it. The company noted in a filing that critics didn’t want anything else but better concessions in business in order to remain silent about the merger. After the merger, CMCSA and Time Warner Cable Inc (NYSE:TWC) would collectively control one out of every home in terms of cable services and 36% of total broadband services of the country. According to Michael Copps, Former FCC commissioner, tough talks between CMCSA and other parties might backfire. He further added that they paid a lot of money for the honest advice behind this merger proposal submission, but they might end up paying more if things didn’t improve. Comcast Corporation (NASDAQ:CMCSA) has all the support, both in terms of finance and market share; therefore, small players may find it difficult to reach a satisfactory conclusion against it.

About the Author

Barry is a senior journalist at Us Markets Daily. He reports, shoots and edits many of his own stories by himself.

Leave A Response