New Media Merger Could Create a Monster
Posted October 13th, 2009 by Megan Tady
Talk about creating a monster: It appears that cable giant Comcast is negotiating with General Electric to take over NBC Universal.
In the deal under discussion, according to news reports, Comcast would contribute money and its cable networks toward a 51 percent stake in NBC Universal, with the goal of eventually owning the entire company.
If you just got a little nauseated, you should see my face: I’m green. This deal would potentially give Comcast massive control over TV and online content, as well as a delivery system for that content. Comcast is the largest cable company and the second-largest Internet service provider in the United States, and NBC Universal has a huge stake in the television market and in Hulu, one of the top online video services.
What else would Comcast own if it snatches up NBC Universal? Here’s what: Bravo, CNBC, NBC News (MSNBC), NBC Sports, NBC Television Network, Oxygen, Syfy (Sci Fi Channel), Telemundo, USA Network and the Weather Channel. Are you green yet?
Although details of the merger are still murky, the prospect of Comcast acquiring a content empire raises troubling questions regarding competition, the public interest and antitrust violations.The monster that would emerge from this joint venture would be large enough to dictate what programming American consumers receive, and whether independent and diverse viewpoints will be heard on cable and the Internet.
This merger needs immediate and close scrutiny by both the Department of Justice and the Federal Communications Commission. The DOJ under President Obama has given every indication that it will be more active than it has been in the past decade, and we hope they won’t let Big Media get monstrously bigger.
