Comcast Buys Out GE's Remaining 49% Stake In NBC
Bob the Super Hamste writes "On Tuesday Comcast announced that it would accelerate its acquisition of NBCUniversal and purchase the remaining 49% owned by GE for $16.7 billion. Previously GE and Comcast were expected to operate NBCUniversal jointly until mid 2014 with Comcast having the option to extend that out until 2018. So far there are not details on when the deal with be completed but the article indicates that Comcast's complete acquisition of NBCUniversal will be completed years earlier that initially thought."
Kabletown
These people will become the 'federal government' of the internet.
“He’s not deformed, he’s just drunk!”
I've been dealing with and reading about Comcast for a long time. This scares me. Already the country has forgotten about the obvious and egregious conflict of interest at the FCC. Face-palm. Comcast now has unprecedented access to the mind-share of the American public, from pre-production to eyeballs.
Comcast along with other companies like Disney, ClearChannel, etc. are not to be trusted. Be wary, my friends.
"Here Lies Philip J. Fry, named for his uncle, to carry on his spirit"
Say goodbye to certain channels on other networks in a few years...
Pretty soon a handful of companies will own every old media outlet out there. Well, at least we still have the internet.
My ISP? Oh, it's Comcas.....oh shit.
What political party do you join when you don't like Bible-thumpers *or* hippies?
Controlling the content creation, performances and delivery of the content is very profitable.
Jack:The only thing I will be discussing with the House Subcommittee on Baseball, Quiz Shows, Terrorism, and Media is vertical integration.
Liz:What's vertical integration?
Jack:Imagine that your favourite corn chip manufacturer also owned the number one diarrhea medication.
Liz: That'd be great cuz then they could put a little sample of the medication in each bag.
Jack:Keep thinking.
Liz:Except then they might be tempted to make the corn chips GIVE you...
Jack:Vertical integration.
Largest military industrial complex member sells propaganda wing to oligopoly softcore porn distributor.
Even Comcast doesn't have the balls to kill off the affiliate system. That ancient system would probably survive a nuclear holocaust.
What political party do you join when you don't like Bible-thumpers *or* hippies?
The broadcast radio spectrum is supposed to be a public resource, but Comcast probably see it as just another transport for their proprietary data. Expect the bought-and-paid-for FCC to make another attempt at the broadcast flag or worse in the near future.
one company owning everything...
The Phone Company (TPC)?
Comcast has a kind of monopoly as it is.
"A monopoly (from Greek monos (alone or single) + polein (to sell)) exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few entities dominating an industry)." Technically Comcast is part of an oligopoly at best. Their is direct competition in Comcast markets with AT&T, Dish, Direct TV, Fios, and in some areas such as Those in Michigan, a competing cable provider like WOW (http://www.wowway.com/). With the number of providers available it is hard to really even claim oligopoly. People go after cable franchising as monopolistic (if that's even a word), and with good reason, it would be if that was the only means by which to provide these services. It's not.
Disagreeing with you does not make me a troll.
for that to work they would need to kill all old equipment and sdr (software defined radio) broadcasting tv and radio from terrestrial transmitters must, by law, be unencrypted with exemptions made for cellular telephone systems
---Saying gnome 3 is better than windows 8 not so much a compliment as it is damning with light praise.
How about a new name at least? I vote for "Weylan-Yutani."
Syfy is owned by NBC, and Comcast has already made changes there.
Syfy's Eureka series debuted in 2006. I was never a big fan, but it looked like it had promise, gained a following and did well. They'd throw out occasional references to things like the LHC and CERN, had Joe Morton (who played Miles Dyson in Terminator 2) as a regular character, and even brought in our buddy (and by that I mean he reads and posts on Slashdot) Wil Wheaton toward the end.
Comcast purchased a majority stake in NBC in January 2011. By August, Eureka was cancelled. The show had good ratings, good viewership, and was considered "the golden child" of Syfy, but Comcast killed it because it was not profitable enough. It wasn't losing money, but Comcast decided that if you have to spend money on special effects to sell the show to viewers, there are lots of cheaper, more profitable ways to get viewers' attention.
With Comcast poised to take full control of NBC sooner, expect more of the shows that drive Syfy's viewership to be cancelled in the next couple of years, and if they take it far enough eventually Syfy may go away.
In 'Murica, only old people watch teevee.
And jocks.
the preceding comment is my own and in no way reflects the opinion of the Joint Chiefs of Staff
one company owning everything...
The Phone Company (TPC)?
ding ding ding!
I deduct that you are Dr Johhny Fever!
You owe me a coke!
the preceding comment is my own and in no way reflects the opinion of the Joint Chiefs of Staff
That 40 year old movie predicted this problem spot on:
https://www.youtube.com/watch?v=HFvT_qEZJf8
Nothing is enough for whom enough is too little - Confucius
ja...
“He’s not deformed, he’s just drunk!”
What? GE makes lots of weapons. They had a big stake in nuke manufacture. They also make a lot of the gatling guns in service, like the M134 and the big gun on the A-10. I wouldn't say they're the largest member of the military industrial complex, but they're in the club. Anyway, making engines for warplanes is just as important as making guns for them.
If you want a vision of the future, imagine a youtube comments section scrolling - forever.
You can watch all the NBC you want; but after 250 hours your viewing will be reduced to MSNBC.
Which spent the 1990s-2000s buying each other up, including the biggest of them buying AT&T and taking its name.
Except the federal government is owned by this monopoly.
That isn't true for everyone. I know a lot of people who only have one option. If my line of sight was blocked I'd have exactly one potential tv provider, and blocked line of sight is common in my area. For internet, I have precisely two choices: The cable monopoly and the bastard step-grandpa of US West, whoever they are this year. CenturyLink (had to look it up)
Plain internet is $50 and up, and I am envious of people I know who live somewhere with competition.
I have one choice for tv, one choice for a landline, and two choices for internet which both conveniently charge the same inflated price. That is close enough to a monopoly to give them monopoly pricing on most of their services.
Man, you really need that seminar!
So not only will they reduce the quality and variety of TV programming, they'll make you pay for it.
"Comcast executives warned analysts in the call that TV programming costs could increase in the "low double digits" in 2013 -- inflation that likely will passed to Comcast's TV customers -- after increasing about 7 percent in 2012."
http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201302131211KRTRIB__BUSNEWS_2063_22042-1¶ms=timestamp%7C%7C02/13/2013%2012:11%20PM%20ET%7C%7Cheadline%7C%7CComcast%3A%20Rate%20hike%20likely%20to%20pay%20for%20programming%20%5BThe%20Philadelphia%20Inquirer%5D%7C%7CdocSource%7C%7CMcClatchy-Tribune%7C%7Cprovider%7C%7CACQUIREMEDIA%7C%7Cbridgesymbol%7C%7CUS;CMCSA&ticker=CMCSA
Anyway, making engines for warplanes is just as important as making guns for them
Which, in the grand scheme of things, means it’s not important.
GE is massive. GE does not bother breaking out it’s government defense contracts which means it accounts for only a thin slice of it’s income. It’s ancillary to GE core business. They make jet engines – extending it the military is easy. This is unlike Boeing, which is much more reliant of military contracts to fund it’s R&D.
They also make a lot of the gatling guns in service, like the M134
The wiki article uses the past tense when talking about GE.
GE: We don't make weapons, we make weapons better
Maybe we'll see a corporate mandated breakup of the government.
Modern Anti-Trust law is a bit more nuanced then the Greek definition.
Currently you run into anti-trust issues if a company’s dominate position causes market abuse – i.e. extract rents (i.e. economic profits which are above ordinary profits.) Some companies have been able to remain monopolies by keeping prices low so there is minimal market abuse and thus escape the eye of the Justice department.
Also, to but a finer detail on your post, most of the firms you mentioned are not competitors, but rather close substitutes. I have heard interesting arguments on how close a substitute a bundled cable/internet is verse a bundled phone/DSL competitor, and where to draw the line.
BASF.
Don't you think the calls of an anti-monopoly breakup are a little melodramatic?
Last time I checked, there were other companies offering the same thing from the services side. Names like Cox, Charter, AT&T.
Last time I checked, there were other companies producing content. Names like ABC and CBS and Fox.
Comcast is in the unique position of being both a content delivery system, and a content generator, but it is hardly the only game in town on either side. Until we've reached a point where your only choice for delivery of services is the Comcast network, and the only source of content is that which was created by Comcast, any calls for an anti-trust breakup is a crock.
But you go on ahead and get your internet reactionary/revolutionary thing going on. And if you happen to be a Comcast customer, posting your drivel from the Comcast network, I hope you understand the irony.
Most corps these days don't pay out dividends.
At 51% they already controlled NBC.
So why spend billions just to buy the rest?
I'm not a lawyer, but I play one on the Internet. Blog
Last time I checked, there were other companies offering the same thing from the services side. Names like Cox, Charter, AT&T.
What percentage of Americans actually have a choice in broadband internet, where broadband is defined (by the FCC) as 4 Mbps or higher? I sure don't. I can get precisely one, and if I didn't have line of sight to the top of the local volcano I would have zero. And actually, they only offer a 3-6 Mbps plan, nothing 4+ Mbps, but let's just pretend that's 4+.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
Xfinity TV isn't available in all markets. Does Comcast really want NBCU channels to have 0 ratings in cities served by a different cable TV provider or in rural areas not served by any cable TV provider?
NBC could always cut its OTA affiliate feed back to SDTV.
GE sent NBC on its downward spiral, and Comcast's partial ownership didn't lead to any improvement.
Now GE is out of the picture, and we'll know who to blame if NBC doesn't fix its problems.