Agenda - 8-4-14 Reg. Meeting - Laserfiche WebLink

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f ., n LEE COUNTY NORTH CAROLINA Upon considering the information provided by the County's cable television and broadband consultant, Action Audits, regarding Comcast's acquisition of Time Warner Cable, formation of SpinCo and control over Charter Cable, Comcast will have monopoly control over cable television rates, service and availability throughout North Carolina which will adversely impact the State's residents and businesses. Further, the North Carolina Attorney General has authority to evaluate the merger under Federal statutes and impose conditions limiting the anticompetitive (monopoly) practices which may be imposed by the merged entity upon North Carolinians. WHEREAS, the County has reviewed the elements of the proposed merger and determined that the merger will create a media cartel (monopoly) that poses a grave threat to NC consumers by its ability to control prices, content and availability. WHEREAS, the concentration of horizontal and vertical aspects of the cable and media business by the merger will grant Comcast unprecedented ability and incentive to engage in anti- competitive behaviors fundamentally harmful to North Carolina residents and businesses; WHEREAS, the merged Comcast would directly or indirectly control virtually all the North Carolina broadband and cable television market; access; WHEREAS, the merger will consolidate control (limit) visual and electronic media content the public can WHEREAS, the likelihood exists that certain types of content will be given special (or worse) treatment based on the provider's financial relationship with the merged entities; WHEREAS, consumers face the prospect of higher prices to pay the $45 billion merger acquisition cost; WHEREAS, North Carolina consumer and business interests are not likely to be protected by the Federal government, but can be protected only by proactive behavior by the North Carolina Attorney General; WHEREAS, the North Carolina Attorney General has authority to launch an investigation into the merger and ascertain the likely effects of the merger upon North Carolinians; WHEREAS, the North Carolina Attorney General could use federal authority to review the financial and consumer aspects of the merger and use that evidence to seek conditions that limit the effects of the merger upon North Carolinians by requiring consumer protections and antimonopoly guarantees from the merged entity; and WHEREAS, the County has carefully considered the material aspects of the proposed merger as described by its consultant, Action Audits, and; Makes the Following Findings of Fact and has drawn Conclusions with respect to the harms the Proposed Merger between Comcast and Time Warner Cable will place upon the residents and businesses of the County: Now, therefore the County incorporates by reference the preamble set forth above; and The County finds that the proposed merger between Comcast and TWC and the new entity's control over Charter Cable does not serve the best interests of North Carolina residents and businesses; and The County finds that the State Attorney General has authority to investigate and evaluate the consequences of the proposed merger upon North Carolinians;