FCC Approves Comcast-Universal Merger

CNN is reporting today that the FCC has approved the merger between cable giant Comcast and NBC-Universal. CNET explains:

The $37 billion merger between the companies has been a long time coming. The deal, which was first announced in 2009, provides Comcast with a 51 percent controlling stake in NBC Universal. General Electric will retain the remaining 49 percent. When the deal was first announced, the companies hoped to have it accepted by regulatory bodies at the end of 2010. However, over the course of the last year, the companies faced increasing concerns that their merger might unfairly impact competing content providers and harm consumers. The Department of Justice, which is also evaluating the merger with regard to antitrust rules, is also expected to vote to approve the joint venture. Both the Justice Department and that FCC stamps of approval are needed before the deal to form the joint venture can close.

The merger has been a subject of relentless lampooning on NBC's 30 Rock, where the acquiring company is called Kabletown.

posted by Joe