Comcast and Time Warner on Thursday, February 13, announced a $45.2 billion merger. The announcement automatically set off anti-trust arguments due to the fact that the companies, once merged, would control 30% of the market.
However, the more interesting facts to come out of this were the facts regarding Comcast and Time Warner’s political leanings. According to The Hill, both companies donated heavily to Obama’s reelection campaign as well as other Democratic candidates, “Employees and the associated political action committees of both media giants donated heavily to the president and his party ahead of the 2012 elections.” The article went on to say that both companies appear “on pace to do so again in 2014”.
The Hill also reported that Comcast lobbyist, and Democratic bundler, David Cohen:
“…raised $1.44 million for the president’s reelection campaign in 2011 and 2012, and $2.22 million since 2007”.
Comcast CEO Brian Roberts is also a personal friend of President Obama having been spotted golfing with the President on Martha’s Vineyard as well as sitting on the president’s Jobs Council.
Although the merger has a long way to go before getting approved, it is highly unlikely that it will not be approved considering both companies ties to the President and Democrats. If you want to watch crony capitalism at its finest just watch this merger unfold.
To read the rest of the story at The Hill, click on the following link: