comcast lawmakers debate megamerger benefits
Last Updated : GMT 01:26:51
Arab Today, arab today
Arab Today, arab today

Comcast, lawmakers debate mega-merger benefits

Arab Today, arab today

Arab Today, arab today Comcast, lawmakers debate mega-merger benefits

Washington - AFP

Comcast and skeptical lawmakers sparred Wednesday over the merits of a proposed mega-merger with Time Warner Cable which would boost the position of the largest US cable and broadband provider. The huge cable, Internet and media firm defended the deal as some senators expressed concern that it would concentrate too much power over Internet and cable access, and one consumer advocate said it would create a market "octopus." The $45 billion tie-up "will give us the scale and reach to innovate and compete against our national and global competitors," said Comcast vice president David Cohen at a Senate Judiciary Committee hearing. He said consumers would benefit from "more investment, faster Internet speeds, better technology (and) more Americans connected." Cohen said that while Comcast would expand its footprint with TWC, it must compete against similar services from telecom operators AT&T, streaming providers like Netflix and others such as Google through its fiber and video services. While the deal is being reviewed by US antitrust regulators, objections in Congress could complicate the huge merger of the top two US cable companies. TWC vice president Arthur Minson told the lawmakers that the companies face "robust competition from a wide range of national and global companies," and that "we must adapt in order to succeed." - 'Sense of skepticism' - But some senators remained unconvinced of the benefits. "There is a sense of skepticism among consumers," said Senator Richard Blumenthal. "Prices won't go down, so where's the beef? Apart from the fairly vague potential promise of good things happening, the case has yet to be made that consumers will benefit in any real, tangible way." More emphatically, Senator Al Franken said he opposes the tie-up. "We need to question whether this merger is good for consumers and good for competition," Franken said. "I'm against this deal because I think it does not meet either test," Franken said, adding that he expected "fewer choices and higher prices" if the deal goes through. But Senator Orrin Hatch cautioned against any move to block the deal. "Too often, government intervention in these matter risks harming innovation," Hatch said. "Consumers benefit when the markets are allowed to allocate resources in the most efficient manner. Government regulators must be careful not to intervene unwisely in such technologically dynamic markets." Gene Kimmelman of the activist group told the panel meanwhile the deal would create a titanic competitor with unprecedented power. "This would create a nationwide octopus... squeezing innovation," Kimmelman said. "If we want more innovative, low-priced services, this merger must be rejected." Christopher Yoo, an antitrust expert at the University of Pennsylvania, maintained the deal would have little or no competitive impact because the two firms operate in different areas with limited overlap. "The lack of any overlap means that the merger is not likely to affect the prices consumers would pay," Yoo told the hearing. Analysts have said regulators would carefully scrutinize the deal, not only due to the creation of a dominant cable and broadband operator but because of Comcast's ownership of one of the major television networks and Hollywood studios, NBCUniversal. Comcast, in acquiring NBCU, agreed to abide by so-called net neutrality rules that bar discrimination against competing online services. But Comcast raised eyebrows earlier this year with a separate deal with Netflix in which the streaming video service would pay for smoother delivery, which could set a precedent for other online services.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

comcast lawmakers debate megamerger benefits comcast lawmakers debate megamerger benefits

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

comcast lawmakers debate megamerger benefits comcast lawmakers debate megamerger benefits

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday