“Perhaps you should switch to another cable company… oh, that’s right, we’re the only one in town.”
Comcast this morning confirmed reports that it has struck a deal to buy Time Warner Cable for $45.2 billion in stock, a merger that was blasted by consumer advocates and is sure to receive antitrust scrutiny.
But not to worry, Comcast says—this merger is actually “pro-consumer,” and the US cable TV and Internet markets are so “highly competitive” that the Department of Justice and Federal Communications Commission should wave it through.
“While we believe that this transaction is, and will be determined to be, pro-competitive, pro-consumer, and strongly in the public interest when we make our case and seek approval from federal regulators, we recognize that certain competitive concerns might be raised about consolidation of these assets under one roof,” Comcast said in a fact sheet. “But we strongly believe that these competitive concerns are already addressed, not only by the highly competitive marketplace in which the new company will vigorously compete for subscribers, but also by existing rules and regulations.”