The stock of Comcast Corporation (NASDAQ:CMCSA) closed at $36.56 gaining 0.97% in yesterday’s trading session. The decision by the company to remove the Word Network (TWN) channel from about 7 million homes at the start of the years has come under serious criticism.
The African American religion TV network was fast in filing its complaint accusing the company of discrimination. It also went ahead to cite that Comcast had made numerous attempts to violate the various terms outlined in the agreement. It had moved out to try and obtain exclusive rights to the Word’s digital content.
In defense to its decision to interfere with The Word’s reach, the company said that it had found a perfect replacement in the Impact Network. This one is an African-American owned religious station and it means that the company’s decision was not a discriminatory one.
The stance is quite strong to this point in time.FCC despite its commitment to intervene and offer help came across the barrier of insufficient evidence. The body hadn’t brought forward the required threshold of evidence to support the allegations.
The complaint has a number of sections and FCC has only managed to answer a few parts of the complaint. One of the areas that it hasn’t yet provided answers for was whether or not the broadcast behemoth was in violation of the exclusivity condition.
The partial ruling has caused a lot of speculations globally with quite a significant number of people taking the strong stand that FCC needs to have been more decisive. They thought that the evidence provided was enough and that time had finally come for Comcast to be pushed to do the right thing.
The company’s spokesperson opined, “Over the years we have encountered a series of challenges in our business operations. The one at the moment seems unending, but we are confident that will succeed eventually.”The African American religion TV network won’t be stopping any time soon in its quest for justice and that is according to a top executive working for it.