NEW YORK (TheStreet) -- An executive at 21st Century Fox (FOXA) has come out in opposition to the proposed Comcast (CMCSA) and Time Warner Cable (TWC) merger.
Chase Carey, Fox's president and COO, stated his misgivings during an investors conference today. Carey's main concern was how the deal would allow Comcast to dominate the broadband market and thus control the flow of media to a large share of the market.
The merger would make Comcast the internet provider for 40% of the United States. Carey commented that, "Probably the issue that will come out of it, and that will ultimately get focused on, is really the broadband issue. Is there choice in broadband? Are you really headed toward every home having simply one broadband provider, and what are the implications of that?"
The implications for his brand could potentially be shoddy access to 21st Century Fox products due to the Federal Communication Commission's recent ruling against net neutrality. Comcast, which recently bought Fox rival NBC Universal from GE, would be in a position to slow the streaming of Fox programs to 40% of the country while increasing access to NBC Universal programming.
The proposed $42 billion all-stock merger has only not been ruled upon by the FCC yet.
TheStreet Ratings team rates TWENTY-FIRST CENTURY FOX INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: