"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.
Meanwhile, a law firm is investigating the deal, curious to know if CommScope adequately sought out rival bids. (See Law Firm Probes CommScope Deal.)
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.
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.)
— Jeff Baumgartner, Site Editor, Light Reading Cable