Charter gets support from Bounce TV founder for TWC, Bright House deals

Charter

Charter Communication's (NASDAQ: CHTR) bid to acquire Time Warner Cable (NYSE: TWC) and Bright House Networks has a bit more bounce in it after the influential founder of African-American network Bounce TV, U.S. Ambassador Andrew Young, endorsed the deal.

"We support Charter Communications' pending transactions with Time Warner Cable and Bright House Networks. Charter has long been a strong supporter of minority-owned networks like Bounce TV and we believe that these transactions are in the public interest and will be beneficial to Bounce TV viewers, African Americans and all ethnicities," Young said in a statement. 

Program diversity--or lack thereof--was a key issue in the run-up to Comcast's (NASDAQ: CMCSA) successful 2011 purchase of NBCUniversal and ultimately unsuccessful 2014-15 bid to buy TWC. As a condition of the former, the FCC mandated that Comcast launch, or help launch, new channels offering African-American and Hispanic perspectives. Comcast's performance regarding that mandate became a sticking point during the regulatory review of its TWC bid.

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

Further augmenting Charter's regulatory prospects, analysts have reacted favorably to the company's public interest statement, filed as part of the just-started FCC review of the company's TWC and Bright House deals. 

Wrote New Street Research's Jonathan Chaplin: "It appears to us that Charter has paid close attention to the government's concerns about the Comcast deal and the negotiations over conditions in the AT&T deal. While we don't think the statements will be sufficient in and of themselves, we think the statements give us greater confidence the deal will be approved and that getting the deal done by the first quarter of 16 is likely."

For more:
- read this Bounce TV press release

Related articles:
FCC starts review of Charter's TWC and Bright House deals
Analyst: 80%-85% chance that feds will approve Charter-TWC deal
Charter marketing $13.8B in loans for TWC purchase, report says

Suggested Articles

The service, which is owned by Viacom, said it launched today on X1. It was already available on Xfinity Flex, a streaming video platform service Comcast…

The U.S. streaming video market is on the cusp of big expansion – with players like Apple, Disney and WarnerMedia joining the fray – and it’s going to fuel…

AT&T is planning to officially launch its new streaming version of the full DirecTV product in the third quarter of 2019 and John Donovan, CEO of AT&T…