Why you should be scared of Comcast and Time Warner Cable merging

[Commentary] With the prospect of a combined Comcast and Time Warner on the horizon, the question turns to what a merger would actually mean -- both for consumers and the industry at large. If the move is approved by federal regulators, it could cement the kind of monolithic monopolies that have plagued cable subscribers all along, raising concerns over network neutrality and competition in the marketplace.

Despite the very real potential for a media dystopia, however, there could be a silver lining: the chance that the deal could help break down a wall that’s kept innovation out of the living room for years. Comcast is already the largest cable and Internet provider in the United States, with 21.7 million television and 20.6 million broadband subscribers to its name. Time Warner Cable is the second-place cable service, but it’s a distant second -- with 11.2 million TV and 11.1 million Internet customers. Comcast will shed around 3 million of its own subscribers, thereby keeping the company’s combined television market share under 30 percent in a bid to appease regulators. Even so, with the addition of Time Warner Cable, an emboldened Comcast will suddenly have a presence in every major media market in the United States, stretching from Los Angeles to New York City. It would turn the behemoth into a titan, expanding Comcast’s reach and power in unprecedented ways. Tie in the fact that Comcast also owns NBCUniversal -- which means it has a movie studio as well as broadcast and cable networks of its own -- and you’re looking at a vertically integrated media juggernaut. One that wouldn’t just be in control of our televisions, but would be ready to steer the direction of any future online services as well.