You will be redirected back to your article in seconds

Senate Democratic Leader Harry Reid Warns of Charter-Time Warner Cable Merger Risks

Senate Minority Leader Harry Reid (D-Nev.) is warning top regulators that the proposed merger of Charter with Time Warner Cable may lead to “higher prices and fewer choices for consumers,” although he stopped short of recommending that the transaction be blocked.

In a letter to Attorney General Loretta Lynch and FCC chairman Tom Wheeler, Reid wrote that the transaction “effectively creates a high-speed broadband duopoly,” with Comcast and Charter ending up as two broadband giants offering Internet service.

“While the companies involved in the Charter transaction may commit to mitigating anticompetitive outcomes, I ask that you closely review how effectively such commitments may be enforced,” Reid wrote. He went on to say that further consolidation in the broadband market “may pose a significant risk to consumers.”

Reid also expressed concerns over the merger’s impact on the market for online video, also called OVD.

Last month, Sen. Mike Lee (R-Utah) and Sen. Amy Klobuchar (D-Minn.) sent letters to the Department of Justice and the FCC, also raising concerns about the transaction. Lee is chairman is a Senate antitrust subcommittee, and Klobuchar is the ranking member. Five senators sent a letter last week with a similar warning, although they, like Reid, did not go so far as to say that the merger should be blocked.

The FCC and the Department of Justice are reviewing the proposed merger.

In a statement, Charter said, “For months we have worked with state and federal regulators to demonstrate New Charter’s plan to add tens of thousands of American jobs, expand broadband access to millions of underserved homes, preserve an open internet and offer fast unlimited broadband at a better value without additional modem fees. We are pleased that Netflix and other key stakeholders across the country have recognized that New Charter will be a ‘tremendous positive’ for the OVD industry and consumers.”

More Biz

  • The King Eric Clapton A Life

    Rashida Jones, Lili Zanuck Talk Grammy Nominations and the Music-Documentary Gold Rush

    Nothing takes you back to time and a place like the music of a particular era. That’s one big reason why music documentaries are flourishing at a time of enormous demand for high-end docu productions. This year’s five Grammy Award nominees for best music film reflect the appetite for stories about renowned and beloved musical figures, [...]

  • il bussetto best business card holder

    Office-Appropriate Gifting: The Best Gifts For Your Colleagues and Bosses

    You can do better than a handshake or bottle of wine to wish your boss a Happy Holiday this season. Here are 10 gifts that show your appreciation for your colleagues or manager, while also helping you stand out from the card and cookie-wielding pack. 1. Personalized Beer Growler Whether they are using it for [...]

  • viceroy-los-cabos-review

    Winter Hotel Guide: Where The Stars Stay in Los Angeles, New York and Beyond

    Whether for a business meeting, a private event, or an intimate celebration for family and friends, these are the hotels that Hollywood keeps on its list. From storied properties that are rich in film and fashion lore, to new players on the hospitality scene, here’s where to book your next stay. 1. Hotel Shangri-La (Santa [...]

  • best tech gifts ipad apple

    Retail Analysts Reveal Top Tech Gifts of 2018

    It’s shaping up to be a busy holiday season for tech and electronics companies, as gaming consoles, streaming devices and televisions top the list of most anticipated gifts, according to retail analysts. New data from Adobe Analytics forecasts that the holiday shopping season (the period from November 1 to December 31) will see more than [...]

  • best harry potter gifts art

    Harry Potter 20th Anniversary: The Best Gifts For Harry Potter Fans

    2018 marked a big milestone for “Harry Potter,” as the franchise celebrated the 20th anniversary of “Harry Potter and the Sorcerer’s Stone” release in the U.S. Since that first book was summoned onto store shelves, the Wizarding World has become a phenomenon not just in America, but around the world, spawning a successful film franchise, [...]

  • Former movie producer Harvey Weinstein (L)

    Harvey Weinstein: Accuser Attended Screening on Day of Alleged Rape

    Harvey Weinstein’s attorney is continuing to hammer away his criminal charges, arguing that new evidence shows that one of his accusers attended a screening where Weinstein was present just hours after the alleged rape. In a letter to Judge James Burke on Friday, attorney Ben Brafman says the new evidence comes from a friend of [...]

  • Tara Reid Sharknado

    Tara Reid Files $100 Million Suit Against the Asylum Over 'Sharknado' Merchandise

    “Sharknado” star Tara Reid has filed suit against the Asylum, alleging that her likeness was used without her consent on beer cans and slot machines. Reid starred in all six installments of the “Sharknado” franchise. According to the suit, her contract included a provision barring the producers from using her likeness on products related to [...]

More From Our Brands

Access exclusive content