Adweek: Netflix Comes Out Against Comcast-Time Warner Cable Merger

Netflix told shareholders Monday that the company opposes the merger of Comcast and Time Warner Cable because it would give the combined company too much power over broadband Internet access.

The company’s position, laid out in its first quarter letter to shareholders, is not all that surprising, given a recent blog post by CEO Reed Hastings where he slammed the deal Netflix cut with Comcast for direct access to its network.

Netflix ended the first quarter with more than 48 million global subscribers. Earnings per share for the quarter grew from 5 cents a year ago to 86 cents. The company also posted substantial year-over-year revenue and profit growth. Net income rose from $3 million to $53 million, while revenue for the quarter grew from $781 million to $1.066 billion.

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