Well, the FCC proves once again they are all for big business and could care less about you and me.
The Federal Communications Commission says that it approves Charter Communications’ $90 billion takeover of Time Warner Cable and Bright House Networks.
The deal was also approved by the Justice Department. The merger combines the nation’s second-, third- and sixth-largest cable-TV and Internet providers. With this approval just two Internet service providers, Charter and Comcast, would control nearly two-thirds of the nation’s high-speed Internet subscribers.
Free Press President and CEO Craig Aaron made the following statement:
“There’s nothing about this massive merger that serves the public interest. There’s nothing about it that helps make the market for cable-TV and Internet services more affordable and competitive for Americans.
“Customers of the newly merged entity will be socked with higher prices as Charter attempts to pay off the nearly $27 billion debt load it took on to finance this deal."
“Thanks to this merger both Charter and Comcast now have unprecedented control over our cable and Internet connections. Their crushing monopoly power will mean fewer choices, higher prices, no accountability and no competition."
In other words, we get screwed again.
Thanks FCC for looking out for us......NOT!