Two Sh*t companies want to join to make a mega-merger that would see one parent company own both CNN & NBC, to name just one of the huge problems with this deal. Franken & Sanders weighed in today.
Senator Franken, The Democratic Minnesota Senator has created a track record of being one of few lonely voices for the people in DC. Today Senator Franken dropped the hammer on the Comcast Time-Warner merger, saying that the deal needs careful scrutiny. Franken wants federal regulators to protect consumers and act quickly on Comcast’s $40 billion dollar purchase of Time-Warner.
In a letter to the Department of Justice, the Federal Trade Commission, and the Federal Communications Commission, Franken said the move could be bad for consumers by driving up cable rates, “I have serious reservations about this proposed transaction, which would consolidate the largest and second largest cable providers in America. I urge you to act quickly and decisively to ensure that consumers are not exposed to increased cable prices and decreased quality of service as a result of this transaction.”
Franken observed that customers are already paying high bills for unsatisfactory service, “Unfortunately, a handful of cable providers dominate the market, leaving consumers with little choice but to pay high bills for often unsatisfactory service.”
Citing rising cable rates, Franken reminded the DOJ, FTC and FCC that Comcast recently acquired NBC Universal, and any further merger would give Comcast too much control over television content.
Bernie Sanders also weighed in:
Comcast on Thursday agreed to buy Time Warner Cable. The merger with Time Warner would create the largest cable company in America. If the deal is approved by regulators, one company would service much of the American market. A survey of 70,000 American consumers ranked Time Warner Cable as the second worst company in America for overall customer satisfaction. Comcast was not far behind in fourth place. It’s clear that customers want more choices and increased competition in the cable television and Internet industry.
Here is the CNN Report: