Media company Discovery Communications Inc demanded business concessions as a condition for not opposing Comcast Corp's bid for Time Warner Cable Inc, Comcast told U.S. regulators in a filing on Tuesday. "Such extortionate demands are patently improper," Comcast said in a summary of the filing. "As the self-proclaimed '#1 Pay-TV Programmer in the World,' Discovery does not need additional regulatory help to succeed in the marketplace."Discovery said it stands by concerns it expressed in a meeting with the Federal Communications Commission (FCC) earlier this month that the merger could give Comcast more leverage to impose onerous terms in deals with programmers. The company owns the Discovery, Oprah Winfrey Network, TLC and Animal Planet cable channels."Comcast's silence on the details of key issues like program discounts, and instead, its continued strategy of intimidating voices that are not fully supportive of its position, is troubling," Discovery said in a statement.Several weeks ago, Discovery told the FCC it was concerned the merger "could result in lower quality, less diverse programming and fewer independent voices among programmers."
Discovery Communications, Inc. (Discovery) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide. Shares of DISCA traded higher by 0.31% or $0.12/share to $38.34. In the past year, the shares have traded as low as $36.57 and as high as $46.38. On average, 3334560 shares of DISCA exchange hands on a given day and today's volume is recorded at 38454.
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 0.19% or $0.28/share to $148.14. In the past year, the shares have traded as low as $108.88 and as high as $155.32. On average, 1646290 shares of TWC exchange hands on a given day and today's volume is recorded at 9140.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 0.15% or $0.11/share to $75.38. In the past year, the shares have traded as low as $58.22 and as high as $88.13. On average, 7864220 shares of TWX exchange hands on a given day and today's volume is recorded at 23191.
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