NEW YORK: As the Internet has upended their business, cable companies have been racing to reinvent themselves as dominant broadband providers and distributors of online video. Charter Communications' $55 billion bid for Time Warner Cable, paired with a $10 billion side offer for Bright House Networks, marks the latest in a wave of deals that promise consumer benefits. Perhaps so. Over the long run, though, critics say the collective weight of such deals may mean higher prices for subscribers. In an accelerating trend, cable providers now have more Internet subscribers than TV subscribers, according to data provider SNL Kagan. As more viewers ditch TV for online video, competition for...
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