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April 10, 2014

Comcast, Time Warner Execs Push Merger Before Congress 
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Executives from the nation's two largest cable providers are appearing
before Congress to face questioning over their controversial merger.
Comcast is seeking to buy Time Warner Cable in a $45 billion deal. The
takeover would grant Comcast a virtual monopoly in 19 of the 20 largest
media markets. Speaking before the Senate Judiciary Committee, Comcast
Vice President David Cohen said acquiring Time Warner would help cable
market competition.

David Cohen: "While this transaction will make us bigger, that's a good
thing, not a problem. Most of our real competitors are national and
global and larger than us, like the Bells [former AT&T spinoff
telecommunications companies], satellite companies, Apple, Google, Sony
and Netflix. In fact, the business reason for this transaction is to
create the scale that will enable Comcast to invest more in innovation
and infrastructure and enhance our ability to compete more effectively."

Comcast and Time Warner have extensive government ties. Both companies
have spent tens of millions of dollars on lobbying and donations. The
bulk of Time Warner's lobbyists last year were former government
employees. In testimony critical of the merger, Gene Kimmelman of the
group Public Knowledge said it would raise prices and reduce choices for
consumers.

Gene Kimmelman: "This proposed transaction consolidates too much power
in the combined video and high-speed Internet market, giving Comcast a
virtual gatekeeper role for fast Internet-delivered video and innovative
new services. Mr. Chairman, members of the committee, the issue before
antitrust officials and communication regulators is really very, very
simple: If we want more innovative, low-priced, Internet-delivered
services, this merger must be rejected."

The merger hearings continue today in the House. The Justice Department
and the Federal Communications Commission will have final say on whether
the merge is approved.

 

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