Comcast Voted Worst Company in America for 2014
April 8, 2014 4:07 PM
This is its second time with the title
Comcast may be the big dog on the cable block, but bigger doesn't always mean better.
, Comcast was crowned the worst company in America for 2014. It held the same title only four years ago as well.
Comcast was a finalist alongside Monsanto for the 2014 WCIA, but in the end, Comcast received 51.5 percent of votes while Monsanto fell to a close second with 48.5 percent.
Comcast went up against other contestants like Yahoo, Facebook, Verizon and Sea World before facing off in the final round with Monsanto.
Comcast confirmed its
acquisition of Time Warner Cable
for $45.2 billion USD in mid-February. It's set to be an all-stock transaction.
The deal, which should be completed by the end of 2014 (after approval by stockholders and regulators, of course), will give TWC investors 2.875 Comcast stock for each of their shares. TWC shares are valued at $158.82 a piece.
It was revealed last month that Comcast used its political action committee to pay millions of dollars in lobbying, which paid many lawmakers responsible for overseeing the acquisition. The company even made donations to charities in an effort to put itself in a favorable light.
Comcast reportedly gave 15 of the 18 members of the Senate Judiciary Committee as well as 32 of the 39 members of the House Judiciary Committee some type of compensation or donation.
The acquisition has been met with strong criticism. Some worry that the merger will result in reduced competition, poor customer service, less innovation and higher prices for customers. These worries stem from analyst predictions that Comcast and TWC's combined company would control about one-third of the U.S. broadband market.
"People Don't Respect Confidentiality in This Industry" -- Sony Computer Entertainment of America President and CEO Jack Tretton
Confirmed: Comcast Acquires Time Warner Cable for $45.2 Billion
February 13, 2014, 10:51 AM
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