Around the Net

DOJ: Comcast/NBC Deal Judged On Evidence

Reuters, Friday, June 11, 2010 12:35 AM

U.S. regulators will either challenge or allow Comcast's proposed takeover of NBC Universal on the evidence, said U.S. Justice Department antitrust chief Christine Varney. Sen. Al Franken expressed concern about loss of independent programming and higher cable bills if the deal goes through. Varney said that it would be looked at thoroughly and a court would make any remedies binding, adding" We don't rely on promises."

Comcast, the top U.S. cable provider, is seeking a controlling stake in General Electric Co's NBC Universal in a $30 billion joint venture being reviewed by the Justice Department and the Federal Communications Commission. The proposed transaction has caused an uproar with consumer and public interest groups who have warned that the deal is likely to result in higher prices for consumers.

Read the whole story at Reuters »

m&a, television

Next story loading