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Netflix officially came out against Comcast’s proposed $45 billion deal to acquire Time Warner Cable in its earnings release today, citing concerns that the combined company “would possess even more anti-competitive leverage to charge arbitrary interconnection tolls for access to their customers.”

Comcast is already the country’s largest Internet provider. Netflix cut a peering deal with Comcast in February to get more reliable delivery of its movies and TV shows to the cable giant’s customers but later complained about the need to do so. Comcast’s NBCUniversal unit is an investor in Re/code.

(Update: Comcast responded to Netflix’s announcement here.)