Captive Audience: Power of telecom, cable industry is growing
On a gray day in February 2010, Brian Roberts sat facing the U.S. Senate Judiciary Committee’s antitrust subcommittee. The panel was holding its first hearing on a proposed merger between two of the country’s most powerful media companies, the cable distribution giant Comcast Corp. and the entertainment conglomerate NBC Universal. Roberts, the chief executive officer of Comcast, was a calm and friendly witness. If the Justice Department’s Antitrust Division and the Federal Communications Commission approved the merger, Comcast’s future as the largest distributor of information in the country would be assured. Comcast had been gaining strength as a monopoly...
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