The fight between cable providers and TV programmers over the cost of content gets amped up to 11 in Wednesday's cable round-up.
Time Warner Cable Inc. (NYSE: TWC) is warning television programmers not to impose "huge price increases" for television content, as fierce disputes over programming costs have forced fresh blackouts of channels on Time Warner Cable and others. "Consumers are tired of these disputes and so are we -- television networks can't continue to demand huge price increases and expect us to silently pass those cost increases on to our customers," the cable provider stated in The Wall Street Journal.
TWC, meanwhile, has been accused by Nexstar Broadcasting Group Inc. (Nasdaq: NXST) of stealing NBC signals in Indiana and Pennsylvania and a CBS signal from Rochester, N.Y. that it owns and illegally retransmitting them to markets including Cincinnati; Louisville, Ky; and Orlando, Fla. Nexstar is suing TWC in the U.S. District Court in the northern district of Texas, alleging copyright infringement and breach of contract, Adweek reports.
Dish Network LLC (Nasdaq: DISH)'s shares had their biggest one-day gain since early March on Tuesday thanks to a positive report from a Wells Fargo & Co. analyst. Marci Ryvicker wrote that concerns that Dish Chairman Charlie Ergen will spend billions of dollars building a 4G wireless network in satellite spectrum are unfounded. The note sent Dish's stock up 4.6 percent to $28.90 at in the close yesterday, according to Bloomberg.
Police confirmed Tuesday that a Comcast Corp. (Nasdaq: CMCSA, CMCSK) worker has been killed in an armed robbery gone awry, the Maryland Gazette reports. Thirty-year Comcast installer Bradford McCoy was run over by another victim of the attempted robbery trying to escape the scene, police say.
The City of Redondo Beach may charge Time Warner Cable with vandalism after a bizarre marketing campaign by the cable provider. The Redondo Beach Patch reports that TWC wrote on the city's esplanade with blue chalk to advertise its free Wi-Fi service.