Suit Claims Comcast Used Monopoly Tactics
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Comcast Corp. has been sued by Chicago-area customers who complained that the company has engaged in monopolistic tactics to reduce competition and keep prices high.
“They monopolize the market by buying up cable companies, by merging with other cable companies, by excluding others from the market and by swapping customers,” said Gary Specks, a Chicago attorney who filed the lawsuit this week in Illinois state court.
Comcast bought AT&T; Corp.’s cable unit last year for $56 billion to become the largest U.S. cable operator, with more than 21 million subscribers. A spokesman for Philadelphia-based Comcast said the company had not yet been served with the suit and had no comment.
Comcast shares fell 23 cents to $31.46 on the NYSE.
From Bloomberg News
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