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Article: Viacom Chairman Says TCI's Malone Has Too Much Power in Cable Industry. (Originated from The Philadelphia Inquirer)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 27, 1993
- Author:
CopyrightCOPYRIGHT 1993 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON--Oct. 28--Viacom's billionaire chairman, Sumner M. Redstone,
told a Senate committee Wednesday that cable TV titan John C. Malone wields so much power over what Americans see on cable TV that:
- Malone's Tele-Communications Inc. (TCI) forced NBC to change the focus of its CNBC cable channel so that the new channel did not compete with CNN, in which Malone has a financial stake.
- TCI executives threatened to "crucify" Viacom's own Movie Channel by dropping it from TCI's 10.5 million cable homes in favor of Encore, a movie service owned by another Malone-run company, Liberty Media.
- Malone obtained an interest in Court TV by ...