Remember how we were all brought up to believe that monopolies were bad things, frowned upon by the United States government since the 1890s?
Yeah, well screw that.
From the New York Times:
Comcast is expected to announce on Thursday an agreement to acquire Time Warner Cable for more than $45 billion in stock, a deal that would combine the biggest and second-biggest cable television operators in the country.
For Comcast, which completed its acquisition of NBC Universal, the television and movie powerhouse, from General Electric less than a year ago, the latest deal would be its second big act to radically reshape the media landscape in the United States. And the merger is almost certain to bring to an end a protracted takeover battle that Charter Communications has been waging for Time Warner Cable.
Comcast and its NBCUni properties already represent the largest, most vertically integrated media conglomerate in the world. What a buyout of TWC would mean is a media behemoth with unprecedented power, one that controls upwards of 75% of the cable market.
As Craig Moffett, an industry analyst at Moffett Nathanson Research, wrote last year, “A company of that size would arguably have de facto control of what content could and couldn’t exist in the U.S. A programmer that failed to get a distribution deal with Comcast arguably wouldn’t be economically viable.”
Antitrust regulators will have their work cut out for them on this one, but if they ever want to see late night Cinemax again, they’ll go along with it.
Chez Pazienza was the beating heart of The Daily Banter, sadly passing away on February 25, 2017. His voice remains ever present at the Banter, and his influence as powerful as ever.