Thursday, April 10, 2014
Stephen Colbert Replacing Letterman, Comcast in hotwater
Comcast and Time Warner Cable execs grilled by lawmakers
Chilling facts about how much control Comcast and Time Warner would have if their merger goes through. Netflix paying them off for their srvices a while back shows big companies think the merger will go through no matter what the government does.
"Of particular worry is the Internet, where Comcast could have a 40% nationwide share of the market. Sen. Amy Klobuchar (D-Minn) said that kind of clout has the potential to be abused and harm new entrants into a burgeoning market.
"What will happen to the next Neflix that today is just a dream in a garage?" Klobuchar asked. "
"The harshest critic and toughest questioning came from Sen. Al Franken (D-Minn.), who has made no secret of his disdain for Comcast and his opposition to its proposed purchase of Time Warner Cable
"This deal will result in fewer choices and higher prices," Franken predicted, adding that Comcast wants to control the national market for cable and broadband."