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."Comcast Executive Vice President David Cohen said Discovery came to Comcast after the bid was announced and asked to negotiate a new distribution agreement. Discovery sought more carriage for its channels and higher fees, Cohen told reporters during a conference call.A source close to Discovery said the company approached Comcast before the merger announcement and negotiations did not move forward. Discovery did not make any requests of Comcast that were tied to the Time Warner Cable bid, the source said.
Discovery Communications, Inc. (Discovery) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide. Shares of DISCA fell by 0.42% or $-0.16/share to $38.06. 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 1844039.
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 fell by 1.02% or $-1.505/share to $146.36. 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 2130073.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 0.98% or $0.74/share to $76.01. 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 3475195.
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