MERIDIAN (dpa-AFX) - DISH Network Corp (DISH) Monday petitioned the Federal Communications Commission to deny the merger of cable company Comcast Corp (CMCSA) and Time Warner Cable Inc (TWC), saying the deal would stifle competition and harm consumers.
In its petition, DISH outlined, among other things, the critical role high-speed broadband plays in the video industry and the potential for the merger to damage competitive development of over-the-top video and limit consumer access to online video programming.
In Feb, Comcast agreed to acquire Time Warner Cable, a provider of video, high-speed data and voice services, for $45.2 billion in an all-stock deal.
DISH stock closed Monday at $64.42, down $0.40 or 0.62%, on a volume of 947k shares on the Nasdaq.
Copyright RTT News/dpa-AFX