The FCC is likely one of the most transparently corrupt government entities in this country. What’s worse, they can be bought cheap. Preferential treatment and approval fast-tracking as a result of underhanded dealings continued financial support is just another day at the office for the FCC. Likewise, companies posing a potential threat to FCC supporters are consistently forced to undergo needlessly drawn out proceedings before progress is likely ultimately stunted. Supporters on the other hand, sit back and relax as their dealings skate on through to approval. To think that mergers between Exxon and Mobil or Chevron and Texaco took less examination then the still-in-limbo XM-Sirius merger is simply atrocious. Despite the fact that Sirius and XM combine to make up less than 5% of the radio market, they still pose a big enough threat to the National Association of Broadcasters (NAB) to warrant string pulling. As the FCC puppets continue to dance, people like Jim Cramer are finally getting fed up enough to point some fingers. The outspoken analyst recently outed several Congressmen in opposition of the satellite radio merger for having taken radio lobby “contributions” in past cycles. Still, the cycle continues.
Comcast, another company apparently not lining enough pockets showing enough support for the right Congressmen, has delivered on its promise to sue the FCC. The issue at hand is the FCC’s recent ruling that no provider of pay television services can own more than 30% of the market. Imagine that; a law that prevents companies from being successful wink wink. Comcast suit aside, we wonder of course whether the recent entrance of various FCC-pet telcos into the TV game had any influence on this decision. We further wonder what would happen if one of said telcos began to approach the 30% mark. Comcast’s David Cohen sums it up well:
“The FCC action in this case is perplexing from the same commission that approved the largest telecommunications deal in history with the AT&T merger as well as two other Bell company mega-mergers in the past three years. As these FCC decisions have strengthened the hands of our Bell competitors, it is unthinkable that the government would constrain the ability of cable companies like Comcast to compete with these colossal companies.”
To put it bluntly, the FCC has become a shining example of a gross misuse of government. It is a drain on American tax dollars and a parody of our system. Government deliberation-wise, it was easier for America to invade Iraq than it is for XM to merge with Sirius…
