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Comcast Surrenders To Government Bullies, Backs Out Of Merger

Citations

Investor's Business Daily cites Wayne Crews' work on the failed Comcast-Time Warner merger.

Clyde Wayne Crews of the Competitive Enterprise Institute brings a thought to the debate that no government functionary or politician could ever conceive of. He wrote Thursday that "these bureaucrats have decided on our behalf that the merger wouldn't help us. What they have really decided is that no competitor will need to react to the Comcast-TWC merger, and so competitors have been awarded a government-granted reprieve from the pressures of competition. Over and over, antitrust routinely harms consumers far more than any ordinary business transaction like this can ever do."

The government wanted to block the planned merger due to fears that the resulting company would have too big of a slice of the market. But as Crews notes, it is Washington bureaucrats who "are the real wielders of unchecked monopoly power over all industries, not just one sector like this."