Comcast Buys NBC – Can you Spell Monopoly?

comcast logoThe recent news of Comcast buying NBC means only one thing: Goliath just got a lot bigger.

If you’re at all concerned with the free market ideals that this nation was built on, there’s no way you can’t be just as pissed as I am about this. Comcast is already the largest cable and internet provider serving over 20 million video customers and over 16 million internet customers. The big idea: Comcast is a monopoly and with the recent purchase of NBC, the monopoly is not going in the right direction.

Ryan Singel, in his article on WIRED says “Comcast is paying GE about $6.5 billion in cash and $7.25 billion in programming for a 51 percent stake. GE remains in control of the rest of the company, valued at $30 billion in the complicated deal.”

What this means is Comcast now owns over half of NBC.

Additionally interesting is Singel’s mention of fate of NBC-owned Hulu – the free way to watch TV shows, movies and more online. With the purchase of NBC, and the growing threat of Comcast customers ditching the service when free options are available, it might just be that Comcast decides to shut Hulu down. Or, at least allow access only to paying Comcast customers. Either way, it’s not a good sign to those of us who’d rather watch TV on the internet for (get this price) free.

So Comcast, you can take your 51 percent share and become that much more of a behemoth, but just remember, even Goliath couldn’t crush the small guy no matter how hard he tried.

Read the entire article by Ryan Singel on Wired.com

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