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AT&T Inc. (NYSE:T) Dismissed Netflix (NFLX) Call For Free Interconnection

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On Friday, AT&T Inc. (NYSE:T) dismissed Netflix (NFLX)’s recent call for free interconnection as an conceited and unfair attempt to force others to pay for the content provider, in order to gain access to faster broadband speeds and better services.

After customers complained about slow service, Netflix has struck a deal to pay Comcast Corporation (NASDAQ:CMCSA) for faster online delivery, in February, of its movies and TV shows, through a practice known as interconnection, Comcast Corporation (NASDAQ:CMCSA) is also seeking US approval from the regulators for its proposed $45.2 billion purchase of Time Warner Cable Inc (TWC). The treatment of internet traffic is one of the issue to receive the scrutiny during the government’s review.

“As we all know, there is no free lunch, and there’s also no cost-free delivery of streaming movies. Someone has to pay that cost,” Jim Cicconi, AT&T’s senior executive vice president for external and legislative affairs wrote in a company blog post.

“Mr. Hastings’ arrogant proposition is that everyone else should pay but Netflix,” he said.

Comcast Corporation (NASDAQ:CMCSA) responded by saying no other company had a stronger commitment to openness of the Internet. “While in the short term Netflix will in cases reluctantly pay large to ensure a high quality member experience, we will continue to fight for the internet the world needs and deserves,” wrote Hastings.
Several large U.S. internet companies and Hastings met with President Barack Obama to discuss changes to government surveillance programs on Friday.

On last trading day AT&T Inc. (NYSE:T) ended up 0.62% higher to close at $34.30 while trading in the range of $34.13 – $34.80. Its return on assets (ROA) is 6.70% while return on investment (ROI) is 12.80%. AT&T Inc. (NYSE:T) monthly performance is 3.38%. T belongs to Technology sector with market capitalization of 178.59B and has 0.04% insider ownership. It is -8.53% away from its 52 week high. This Year Company’s Earnings per Share (EPS) growth is 171.20% and next year’s estimated EPS growth is 4.86%. Analysts mean target price for AT&T Inc. (NYSE:T) is $35.54.

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