TEXT OF INTERVIEW
Steve Chiotakis: Well it’s official now. Comcast, the nation’s largest cable company, will pay just under $14 billion for a majority share of NBC Universal. Comcast will share ownership of NBC Universal with GE. We’re going to talk to Marketplace’s Amy Scott, who’s with us live from our bureau in New York. Hi Amy.
Amy Scott: Hi.
Chiotakis: So what does the deal give Comcast?
Scott: Well it gives Comcast the NBC network, several cable channels like USA and the Weather Channel, as well as a major film studio. I talked this morning with Porter Bibb, with Mediatech Capital Partners. He says the deal instantly makes Comcast the world’s largest media conglomerate, a huge player in both media content and distribution.
BIBB: They are now the first and only totally vertically-integrated media company. They have cable, they have broadcast over the air with NBC, they have wireless, and they have broadband on the Internet.
Chiotakis: So, Amy, is there anything they won’t have?
Scott: Well Bibb says they won’t have any print.
Chiotakis: Well there we go. I assume there will be some legal hurdles to clear for this deal to go through, right?
Scott: Consumer advocates are raising some objections already. They say the merger would stifle competition and innovation in the video market, and could trigger a wave of media mergers. Analysts are saying though that the deal will probably go through, but Comcast will probably have to agree to some restrictions.
Chiotakis: All right. Marketplace’s New York bureau chief Amy Scott with us this morning. Amy, thanks.
Scott: You’re welcome.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.