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Netflix Subs Revolt

Netflix Inc. (Nasdaq: NFLX) a whipping boy? Say it isn't so. Here's today's cable news roundup.

  • Some Netflix customers are dropping their subscriptions after the company overhauled its subscription plans, which included hiking the monthly fee for unlimited streaming plus one monthly DVD rental by 60 percent to US$16. While the Netflix streaming-only subscription remains $7.99, Jefferies & Co. Inc. predicts the move could produce a bigger than expected subscriber exodus in the second half of 2011. The Netflix blog post explaining the move is chock-full of customer vitriol.

  • News Corp. (NYSE: NWS) abandoned its bid to acquire top U.K. pay-TV firm Sky , amid the phone-hacking scandal.

  • Level 3 Communications Inc. (NYSE: LVLT) and Cox Communications Inc. have expanded their IP and transport service deal to include a wholesale element that lets Cox use and resell Level 3's services. Cox is also purchasing additional dark fiber to help beef up its backbone.

  • New Blockbuster Inc. owner Dish Network LLC (Nasdaq: DISH) is shuttering three stores on Hawaii's Oahu. (See Dish Can't Match Netflix.)

  • Comcast Corp. (Nasdaq: CMCSA, CMCSK) says its Xfinity Signature Support service -- the MSO's version of Best Buy's Geek Squad -- is available to more than 22 million customers upon completing its national rollout.

  • Time Warner Cable Inc. (NYSE: TWC) promoted former AT&T Inc. (NYSE: T) exec Michael Roudi to senior VP of mobile services.

  • Concerns from regulators about a lack of cable TV competition in Kraków is delaying Liberty Global Inc. (Nasdaq: LBTY)'s acquisition of Polish cable operator Aster.

  • Oprah Winfrey is taking the helm as CEO of the cable channel she launched with Discovery Communications Inc. (Nasdaq: DISCA, DISCB, DISCK), a month after telling attendees at The Cable Show in Chicago last month that they shouldn't bet against her.

    — Steve Donohue, Special to Light Reading Cable, and Jeff Baumgartner, Site Editor, Light Reading Cable

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