Market Overview

A Petition To Block Charter-Time Warner Cable Merger Has Over 200,000 Signatures

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ColorOfChange, an online civil rights organization "comprised of Black folks from every economic class," announced in a press release that it has joined nearly a dozen groups and more than 200,000 individuals in opposing a merger between Charter Communications, Inc. (NASDAQ: CHTR) and Time Warner Cable Inc (NYSE: TWC).

According to ColorOfChange, its members and supporters delivered more than 28,000 signatures to the Federal Communications Commission calling on the organization to block any Charter and Time-Warner Cable merger.

"If this merger passes, New Charter and Comcast together would form a national broadband duopoly controlling nearly two-thirds of existing customers and the telecommunications wires connected to nearly 8 out of every 10 U.S. homes," the civil rights organization said. "Under this scenario, customers are likely to see industry-wide price increases and other harmful practices designed to stifle online video competition, such as arbitrary data caps and overage penalties. A New Charter and Comcast duopoly could make Internet even more unaffordable for Black communities that need access as an economic lifeline."

 

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Posted-In: Charter Charter Time Warner Merger Civil Rights Organizations ColorOfChangeM&A News Rumors Legal

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