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FCC Votes To Cap Comcast Growth – Cannot own more than 30% of pay TV market…

In: broadbandreports.com|Site Feeds|VoIP

30 Nov 2007

The Wall Street Journal (registration required) confirms that FCC chief Kevin Martin did get two fellow commissioners to vote with him to cap the growth of Comcast Communications. After the decision the cable giant will be no longer allowed to own more than 30% of the pay TV market. As you might expect, Comcast isn’t happy. Comments from the now-leashed cable giant courtesy of the Philly Inquirer:

“We believe that the record in front of the FCC provides little support for a cable-ownership cap at any level and absolutely no support for a cap of 30 percent,” Comcast executive vice president David L. Cohen said in the statement. “It is unthinkable that the government would constrain the ability of cable companies like Comcast to compete with these colossal companies that have virtually unlimited financial resources,” he added. “In fact, AT&T alone has a market capitalization of $231 billion – larger than the entire cable industry combined.”

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