Comcast Corporation (CMCSA) and Time Warner Cable Inc (TWC): DISH Network Corp (DISH) Files Petition Against the Merger


DISH Network Corp (NASDAQ:DISH) has filed a petition against the merger of Comcast Corporation (NASDAQ:CMCSA) and Time Warner Cable Inc (NYSE:TWC) and claimed that if the merger takes place, there will be significant damage to the competitors and other over-the-top (OTT) video services such as Netflix and Hulu. FBN’s Liz MacDonald reported on this issue and said that Time Warner Cable Inc (NYSE:TWC) and Comcast Corporation (NASDAQ:CMCSA) deal is facing hurdles from its competitors.

dish logo

“[…] It’s the DISH Network Corp (NASDAQ:DISH), it’s the biggest satellite company in the nation. You know, the comments to the FCC, that deadline was yesterday and we have DISH Network Corp (NASDAQ:DISH) weighing in again, telling the FCC to block the $45 billion merger between Comcast Corporation (NASDAQ:CMCSA) and Time Warner Cable Inc (NYSE:TWC),” said McDonald.

DISH Network Corp (NASDAQ:DISH) has argued that the merger between Time Warner and Comcast Corporation (NASDAQ:CMCSA) will hurt the online video rivals because the merging companies will have their hold on the two third of the US household domain, practically disabling the rivals to operate

MacDonald said that Charlie Ergen, the Chairman of the DISH Network Corp (NASDAQ:DISH)  is completely rejecting this deal in open words and saying that this merger will affect not only the rivals in the business, but also the overall video streaming and network industry. MacDonald also referred to a report from Consumer Reports, which touts that Comcast Corporation (NASDAQ:CMCSA) has raised its cable fees by no less than 70% in the last four years. The report also says that both Comcast and Time Warner Cable Inc (NYSE:TWC) are ranking very low in the customer satisfaction and support.

Leon Cooperman of Omega Advisors is one of the biggest shareholders of DISH Network Corp (NASDAQ:DISH) having approximately 3.1 million shares of the company.

Disclosure: None

Suggested Articles:

Best Selling Video Game Franchises

Countries That Consume The Most Meat