Video streaming service Netflix on Monday became the most visible company with a business relationship with Comcast to oppose the No. 1 cable operator's $45.3 billion merger with Time Warner Cable. "It's more in the public interest to either not have them merge or if the government goes ahead with it, to at least put some significant merger agreements, settlements in there," Netflix Chief Executive Officer Reed Hastings said in a webcast following the company's quarterly results.Netflix added in a quarterly letter to shareholders that Comcast would control access to broadband in a majority of U.S. homes while also having "anticompetitive leverage" to charge arbitrary fees on companies that rely on its Internet service.Until now, the only vocal advocates calling for an outright rejection of Comcast-Time Warner Cable merger had been public interest and consumer groups such as Public Knowledge and the Consumers Union, as well as Senator Al Franken, a Minnesota Democrat who has often opposed media concentration.Netflix has tussled with the cable operator in recent months over the speed Comcast delivers the online streaming service to its cable customers. In February, Netflix struck a deal to pay Comcast for faster online delivery of its movies and TV shows through a practice known as interconnection, after customers complained about slow service.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC traded higher by 0.94% or $1.27/share to $136.60. In the past year, the shares have traded as low as $89.81 and as high as $147.28. On average, 3594310 shares of TWC exchange hands on a given day and today's volume is recorded at 1698115.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.15% or $-0.1/share to $65.05. In the past year, the shares have traded as low as $55.71 and as high as $70.77. On average, 5916190 shares of TWX exchange hands on a given day and today's volume is recorded at 3982207.
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