"Company executives are favoring Carlyle over other potential bidders," he claimed in a complaint filed in a Delaware Chancery Court, noting that six CommScope execs stand to get as much as $18.7 million in severance, change-of-control payments, or both if they depart within two years of a change of control.
Ah, cord cutting… now there's a debate that no one is, like, passionate about these days.
After Comcast Corp. (Nasdaq: CMCSA, CMCSK) lost 275,000 basic video subs in the third quarter and chalked it up to a weak economy, traditional competitive pressures, and consumers going over the air versus over the top with broadband, Sanford C. Bernstein & Co. Inc. analyst Craig Moffett expressed to The New York Times that cord-cutters aren't a band of tech-savvy, broadband power users. "The reality is it's someone who's 40 years old and poor and settling for a dog's breakfast of Netflix and short-form video." (See Comcast Loses 275K Video Subscribers in Q3.)
Strategy Analytics Inc. has a different view based on a survey of 2,000 Americans, claiming that cord-cutting is real and made up of educated, employed people, with 54 percent of them likely to be under 40.
Peter Percosan has a new gig... but with the same outfit. Percosan, a cable vet who's been serving as CTO of Cable Europe Labs , has been elevated to managing director. In this position, he'll oversee the pan-European operation of CEL starting Nov. 1.
He's succeeding Malcolm Taylor, who will stay on as a senior adviser focused on certification activities. Percosan tells Light Reading Cable via email that there's no plan at this time to refill the CTO slot at CEL. (See Cable Europe Labs Names Managing Director.)
Under fire from US broadcasters, Locast is appealing for funds to help it mount a legal defense, a move that was attempted eight years ago by Ivi Inc., an OTT-TV company that was sued out of existence.