The contentious proposed Comcast takeover of Time Warner Cable has met with another detractor on Friday. Unsurprisingly, Charter Communications, the company that was trying to bid for Time Warner Cable before Comcast swept in, urged TWC investors not to endorse the merger with Comcast.
The Los Angeles City Attorney announced Friday the city of Los Angeles filed a federal lawsuit against Time Warner Cable, according to the "Los Angeles Times."
With dirt-cheap international messaging apps like WhatsApp coming to prominence, thanks to Facebook's not-so-cheap acquisition of the company, the pressure is on telecoms to keep their customers, like many Latinos, who frequently communicate across borders. Time Warner Cable (which also provides phone service) is responding with free calls to Mexico.
The merger between Comcast and Time Warner Cable is heralded as one of the biggest mergers ever. The people that will suffer the most are the consumers, as well as Comcast's competitors.
The government may have unceremoniously killed net neutrality and cable providers may be clamping down on Netflix's bandwidth usage, but at least fans of the site still have "Orange is the New Black" to look forward too.
Cable TV and internet giant Comcast has reached a deal to buy cable TV and internet giant Time Warner Cable for around $45.2 billion. The merger, which was announced Thursday but broke late Wednesday, would create a television and internet behemoth the likes of which we've never seen - if it's approved.
Time Warner Cable has rejected Charter's merger offer, claiming that their offers per share are "grossly inadequate" and demanding a higher merger price.
