Why Comcast Reportedly Buying Time Warner Cable Isn't Great News

The news has broke that Comcast has reportedly bought Time Warner Cable for $45 Billion. Hat tip to 106.9 Kiss FM for being the first place I heard about this dismal news.

Why isn't great news if you're a Time Warner Cable customer?

First off, you're taking the two largest cable and internet providers in the country and merging them into one. Their service didn't overlap anywhere, but then again there is usually no competition for cable service anywhere that Time Warner or Comcast is located other than going to satellite. On the internet side, the linked article above had this to say:

One likely important factor that would not be as consumer-facing but would still have a huge impact on consumers is the leverage that a combined Comcast/TWC would have with regard to bandwidth. With the recent removal of net neutrality regulations, Internet service providers have the ability to charge whatever they want to — or to block or slow down traffic for — online content providers. 

Also, it doesn't make me feel good that Comcast was also in the news this week for possibly being hacked. 

I do have mild concern in regards to what the deal would do to the Time Warner Cable News outlets. As much as I grumbled in the past about TWC taking over our beloved Cable 8 News back in 2011, I'd still rather have what we were left with than no reporters stationed down in Chautauqua County at all. Plus, I don't know that a merger would mean the end of the stations anyway.

In regards to how this will affect the wallet, I almost have no doubt that consumers would get the shaft in this deal. As it is, broadband costs are higher in the U.S. with much slower internet speed than the rest of the world.

Thankfully, this is not a done deal yet. The FCC and Justice Department still have to approve the deal.

UPDATE: To give you an idea of how much Comcast is loathed, Doghouse Diaries thinks wishing "A Comcast Monopoly In their region" is great revenge on an enemy.