A power surge is on the horizon for the cable television grid, as the already massive media conglomerate Comcast has purchased Time Warner Cable. Comcast purchased Time Warner Cable for $45 billion on Feb. 13. The company also owns Universal Studios, Universal Parks and Resorts and a vast majority of NBCUniversal’s stock. If approved by Congress, this new acquisition would only further solidify Comcast’s domination in the world of mass media and communications, and many, including myself, fear that it will lead to monumentally-high cable prices.
These kind of purchases are not supposed to happen in our country. Comcast became the largest provider of cable television in the U.S. in 2001, and has not let go of the title since. If this acquisition of Time Warner Cable — the second largest cable provider in the U.S. — is approved, then Comcast better start building some houses, because they will have a monopoly.
If there were spaces between Go and Boardwalk, they would be red, and they would be called Comcast and Time Warner Cable. The purchase still needs to be approved by Congress, and rightfully so. If a $45 billion purchase of the second-largest company in an industry doesn’t spell “monopoly”, then our nation has become illiterate. By approving this purchase, Congress would essentially be granting Comcast complete control of the cable television industry.
Hopefully Congress will tread carefully as they discuss this topic, and I urge them to remember the driving principles of our country. People come to the U.S. from all over the world to have the freedom and liberty to pursue their dreams and create a successful life. If there are massive companies hoarding money and customers from small businesses run by average Americans, then something is wrong.
Although small businesses hardly have a chance in an industry like cable television, what would the approval of this purchase say about our country? It would say that we are no longer a nation for the people, of the people, run by the people. If we are no longer those things, then we are no longer the United States of America. Hopefully the Congress will agree.
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