FOR IMMEDIATE RELEASE
November 11, 2015
Press contact: Sara Cederberg, 202.930.1485
Email: [email protected]
Liberty Media Chairman’s Continued Quest To Control Content Raises Concerns Ahead Of Proposed Charter-Time Warner Cable Merger
WASHINGTON, D.C.—Today, Demand Progress Campaign Director Sara Cederberg issued the following statement in response to Deadline Hollywood reports that Discovery Media and Liberty Global will each pay $195 million for 5 million Lionsgate shares. John Malone sits on the board of Lionsgate with a pre-existing stake in the company and is the largest shareholder of Discovery and Liberty Global, as well as Charter Communications, which is attempting to take over Time Warner Cable. Malone is known for his monopolistic cable industry practices and for engineering complex deals that have circumvented taxes and bank rules.
“John Malone’s quest to assert dominance over the Internet and content providers could not be more obvious in this transaction,” said Sara Cederberg.“Make no mistake—Big Cable wants to crush the online content providers that have been pulling scores of their subscribers away. Malone’s maneuverings should ring serious alarm bells for the regulators tasked with examining the proposed merger between Charter and Time Warner Cable. Folding content providers into cable companies would result in less competition, higher prices and worse offerings for the consumer.”
For more on John Malone and grassroots opposition to the Charter-Time Warner Cable merger, please visit: http://nomoremergers.com/team-cable-strikes-back/