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Comcast to Buy 51% of NBC, GE Goes After 49%
An anonymous reader writes to tell us that Comcast and General Electric announced a joint venture yesterday to control NBC Universal, with Comcast coming out with the controlling interest. Comcast's hopes seem to be on succeeding in a marriage of distribution and content, where Time Warner failed. "The deal was approved by the companies' boards, and is subject to regulatory approval. GE said it expects the deal to go through in the third quarter of 2010. Congress has already said it will hold a hearing to investigate whether Comcast will gain 'undue advantages' from the deal that gives it access to programming."
Such a large company in charge of the content AND the delivery channel? What happens when this all consolidates into just a couple of companies with content and channels owned...and then the government has to bail them out, and take control of.....oh wait....
Light travels faster than sound. This is why some people appear bright until you hear them speak.........
In many areas, including my own, Comcast holds the exclusive government-granted monopoly to supply cable television. In many areas they also hold a government-granted monopoly over internet, which means you might end-up like this guy (he lost his net for a year):
Never mind. I can't find the link. ----- But in brief, he was accused by Comcast in 2007 of "downloading too much data" and they turned-off his connection for a whole year. When he asked Comcast, "How much did I use?" they said they didn't know but he was in the top 10% of downloaders, therefore they have the right to turn off his connection without any warning. And no there's no appeals process.
Monopoly.
"I disapprove of what you say, but I will defend to the death your right to say it." - historian Evelyn Beatrice Hall