Al Franken, Amy Klobuchar not thrilled about prospect of Comcast-Time Warner merger
Today, Comcast, the largest cable and high-speed internet service provider in Minnesota and the U.S., announced that it plans to buy Time Warner Cable, the nation's second-largest cable provider, for just over $45 billion.
But that news doesn't sit well with Minnesota's tag-team of senators, as both Al Franken and Amy Klobuchar expressed concern about how the deal might impact consumers.
"I have serious reservations about this proposed transaction, which would consolidate the largest and second largest cable providers in America," Franken wrote in a letter to FEB Chairman Thomas Wheller, Attorney General Eric Holder, and FTC Chairwoman Edith Ramirez.
"Unfortunately, a handful of cable providers dominate the market, leaving consumers with little choice but to pay high bills for often unsatisfactory service," he continued. "I am concerned that Comcast's proposed acquisition of Time Warner would only make things worse for consumers."
Klobuchar released a statement that is characteristically a bit more measured than Franken's remarks, but critical nonetheless.
"This proposed merger could have a significant impact on the cable industry and affect consumers across the country," Klobuchar said. "As chair of the Senate Antitrust Subcommittee, I plan to hold a hearing to carefully scrutinize the details of this merger and its potential consequences for both consumers and competition."
We called Klobuchar's office hoping to hear more about her concerns, but a staffer told us most congressional offices were all but shuttered today thanks to the snownami hitting the East Coast.
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