Comcast has officially filed its intent to acquire Time Warner Cable with the Federal Communications Commission, but in its latest filing the company is accusing several companies of extortion.
According to reports, Comcast claims Discovery Communications is trying to extort favorable conditions in exchange for not opposing Comcast’s merger with TWC. Specifically, the cable group is accusing Discovery of demanding business concessions. “Such extortionate demands are patently improper,” Comcast said. “As the self-proclaimed ‘#1 Pay-TV Programmer in the World,’ Discovery does not need additional regulatory help to succeed in the marketplace.”
Discovery approached the FCC with concerns over the Comcast deal several weeks ago, according to reports, saying that the merger “could result in lower quality, less diverse programming and fewer independent voices among programmers.”
Comcast also accused Cogent Communications and advertising company Viamedia of similarly trying to extort favorable advantages from the merger.
Reports say the FCC is expected to approve of the $45 billion takeover, but Comcast will likely be required to agree to significant concessions to move the deal forward.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
EU Watchdog Mandates Boardroom Accountability for AI in Banks
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI