by Christopher Freeburn | April 15, 2014 10:31 am
According to a policy advocacy organization, Comcast (CMCSA) raised basic cable TV subscription prices by a whopping 68% between 2009 and 2013.
By contrast, Washington D.C.-based Free Press found that Time Warner Cable (TWC) trimmed the advertised price of its basic cable service by 2.5% during the same period. For premium TV packages, Comcast hiked its price by 21%, while Time Warner Cable increased prices by 17%, the New York Post notes.
Free Press noted that rival Cablevision (CVC) boosted basic cable prices by 47%, while Dish Network (DISH) increased them by 11% in the period. In its report, the Free Press accused Comcast of turning “price hikes into something of an art form.”
Earlier this year, Comcast announced plans to acquire Time Warner Cable in a deal valued at $45 billion. The merger must still be cleared by federal regulators, including the Federal Communications Commission (FCC).
Last week, Comcast and Time Warner Cable filed documents with the FCC arguing that their combination will not diminish broadband, phone and cable TV service competition, and would actually boost “innovation and investment.”
Free Press opposes the Comcast-Time Warner merger.
Comcast stock fell slightly in Tuesday morning trading, while TWC stock dipped fractionally. CMCSA stock has gained more than 18% over the past 12 months.
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