The business and technical world got a lot shorter thanks to a major merger. Cable giant Comcast has agreed to buy cable giant Time Warner.
This move will merge the two largest cable companies in America into one powerhouse! This deal will cost Comcast over $45 billion in cash and stock. Time Warner has been on the selling block for months. Comcast’s offer beat out Charter Communications and billionaire John Malone. This merger brings Comcast 11 million more cable subscribers. They will? now virtually own the New York City cable market.
Am I the only one who worries about what this could lead to? Am I the only one that worries about a monopoly? Comcast has purchased over $65 billion in acquisitions since 2004, one of them being $16 billion dollars for NBC Universal. Of course, that $65 billion doesn’t include this latest Time Warner deal, scheduled to become official later this year. Now sure, this might save a few jobs in the short term, or save an entire company in the short term. But what around the long term? What about when cable bills go sky high and there’s nothing the consumer can do because there’s no competition? What about if a small company wants to get started but are shut down by he big boys immediately? What are some of the positive aspects of Comcast buying Time Warner, if there are any?