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'Spectacularly Good News for Consumers' as Comcast/Time-Warner Mega-Merger Fails


#1

'Spectacularly Good News for Consumers' as Comcast/Time-Warner Mega-Merger Fails

Jon Queally, staff writer

Despite a ferocious lobbying effort trying to get federal approval for such a deal since last year, cable giant Comcast is planning to drop its highly-contested bid to merge with its largest competitor Time-Warner, reports Bloomberg news on Thursday.

According to Bloomberg:


#3

I'm sure Theodore Roosevelt would be proud.


#4

Makes me glad i was one of those who sent in a pre-worded comment. You never know when the number will reach a tipping point. Perhaps this is one of those rare times. :O)


#6

MUNICIPAL BROADBAND

the next step is to fight even harder to reverse the bans on municipal broadband


#7

Both Comcast, and Time Warner should never be allowed to stand as they exist today, let alone aspire to monopolize as a sole agent. Their ill gotten gains and devious business practices are worthy of their respective business charters pulled from under perches. This is public domain, community common good, as any public utility.
Along with healthcare, the whole communications shebang needs to be socialized...yesterday, for the sake of today.


#8

While it's good that this merger may indeed be on life support, we are fast approaching the day when two mega companies decide to merge, are told no by the governemnt, and then they hold a press conference.
"We've decided to say Fuck You to the goverment and merge anyway. And there is nothing you can do to stop us."


#9

That's right. While one can see the two FCC actions (net neutrality the other) as "wins" for the people, unless and until we win a comprehensive "new new deal" that rolls back corporate license across the board, and institutes popular control "of by and for the people" over the basic elements of the economy, then these rare "victories" can serve only as palliatives...


#10

Of course that's what happened with Citigroup, when they knew the government was in on the deal. Travelers and Citicorp merged when it was illegal for them to do so, knowing that Clinton would sign off on the enabling legislation after the crime.

Here's a clip from Robert Scheer's article on the topic:

" “Today what we are doing is modernizing the financial services industry, tearing down those antiquated laws and granting banks significant new authority,” a beaming Clinton boasted after signing the Financial Services Modernization Act into law in 1999.

Called the Citigroup authorization act by some wags at the time, those antiquated laws, the Glass-Steagall Act primarily, had put a safety barrier between the high rollers in Wall Street investment firms and the staid commercial banks charged with preserving the savings of ordinary folk. The new law permitted them to merge.

Clinton handed the pen that he used in signing the new law to Citigroup Chairman Sanford Weill, whose Citicorp had already merged with Travelers Group before the law was even officially changed. On an earlier occasion, Weill had informed Clinton about his merger plans in a telephone conversation. After hanging up, Weill then bragged to his fellow banking executive John S. Reed, who was on the call, that “we just made the president of the United States an insider,” according to Wall Street Journal reporter Monica Langley in her book on the Citigroup merger.

In 2000, just before leaving office, Clinton went much further in radical deregulation of the financial industry when he signed the Commodity Futures Modernization Act. In one swoop this eliminated from the purview of any existing regulation or regulatory agency the new financial products, including the mortgage-backed securities at the heart of the financial meltdown"..."


#11

Corporations are not people; money is not speech, and our Constitution should say so. Until it does, corporations will continue to rule us. That's the root of just about every issue that plagues us. This and the recent Keystone victory show us that even today, people can unite and change the course of events. If just one million or less of us can stop these destructive projects, we can come to together to amend our Constitution and preserve the people's sovereignty. I invite you to join me and 380,000 other Americans in signing the Motion to Amend: We, the People of the United States of America, reject the U.S. Supreme Court's Citizens United ruling and other related cases, and move to amend our Constitution to firmly establish that money is not speech, and that human beings, not corporations, are persons entitled to constitutional rights.


#12

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#15

The U.S. Post Office was founded to foster communication in this country. While the founding fathers couldn't possibly have forseen the internet, it has largely supplanted paper mail as the country's communication medium of choice. The thing to do (though it might not be politically possible) is revoke Time-Warner and Comcast's corporate charters for malfeasance and task the Post Office with creating a national high-speed internet system that will be as fast, and inexpensive, as the ones all other first-world countries have.