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First Senate hearing set for Comcast-NBC Universal deal

Now Congress wants to talk to NBC Universal Chief Executive Jeff Zucker. No, it's not about Conan O'Brien and Jay Leno.

The lengthy review of cable giant Comcast Corp.'s deal to take a majority stake in General Electric Co's NBC Universal is about to get underway. First up, as expected, will be the Senate Judiciary Committee's antitrust subcommittee, chaired by Sen. Herb Kohl (D-Wis.). Zucker and Comcast CEO Brian Roberts are scheduled to appear at the hearing, which is set for Feb. 4. 

Kohl expressed concern about the deal when it was announced last month, saying, "This acquisition will create waves throughout the media and entertainment marketplace, and we don’t know where the ripples will end."

Also likely to testify are consumer advocates and media watchdogs as well as rival industry executives. 

The Federal Communications Commission and the Justice Department are also going to review the Comcast-NBC Universal deal and other committees in both the House and Senate will get a crack at it as well.

-- Joe Flint

 
Comments () | Archives (1)

I can see why GE wants to get rid of NBC. But I can't see why Comcast would want to acquire it or merge it into their operations. Is it because Cable TV has only got a few years left and they want to deversify into content?, or do they want to merge as an excuse so they can bankrupt both companies to get rid of employees and pension obligations. From a page out of the Time
Warner/AOL merger. Both Companies probably have 4 times the employees they will need in five years. It's way too much money to pay if it is for any other reason.


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