Feds pledge tough review of Comcast-NBC deal
March 11, 2010(AP) -- Federal regulators are pledging a rigorous review of the proposed combination of Comcast Corp. and NBC Universal.
Christine Varney, head of the Justice Department's antitrust division, and Julius Genachowski, chairman of the Federal Communications Commission, said their agencies will examine the transaction closely to ensure the deal does not stifle competition or harm consumers. Varney and Genachowski made their comments at a Senate Commerce Committee hearing Thursday.
Comcast, the nation's largest cable company, is seeking approval to acquire a 51 percent stake in NBC Universal from General Electric Co. The Justice Department and the FCC are expected to approve the combination with conditions attached. But the review could last at least all year.
©2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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This will mean the consumer pays more for everything- not just the cost of cable television itself, as the cost of advertising any product on an NBC-branded outlet will certainly increase, and those products will contain the increase in their purchase price. The remaining 49% of shareholders are beneficiaries too. Ownership Society, anyone?
Maybe Comcast should buy GE as well, and then control production, distribution, marketing, finance AND information.