Washington D.C. – The U.S. Federal Communications Commission today voted 4-1 to approve Comcast’s $13.8 billion takeover of NBC Universal. The move will give Comcast the 51% of NBC currently owned by GE. It will also create one of the largest media empires in the world.
Comcast controls 23 million TVs and 17 million Internet users around the U.S., and NBC Universal owns numerous TV stations, theme parks and a movie studio. Many inside and outside of the industry were strongly opposed to this buyout given that it will result in an enormous corporation which will then have control over what millions of Americans see on their TVs and have access to via their computers.
The FCC has claimed that it attached specific conditions which must be met before anything can go through, though. These conditions will require Comcast to ensure that its acquisition of NBC does not cause its competitors to suffer.
The U.S. Justice Department still needs to approve the deal, though no one expects that to be much of an obstacle.
Reference: BBC
Comcast controls 23 million TVs and 17 million Internet users around the U.S., and NBC Universal owns numerous TV stations, theme parks and a movie studio. Many inside and outside of the industry were strongly opposed to this buyout given that it will result in an enormous corporation which will then have control over what millions of Americans see on their TVs and have access to via their computers.
The FCC has claimed that it attached specific conditions which must be met before anything can go through, though. These conditions will require Comcast to ensure that its acquisition of NBC does not cause its competitors to suffer.
The U.S. Justice Department still needs to approve the deal, though no one expects that to be much of an obstacle.
Reference: BBC
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