What Comcast’s Failed Merger Tells Us About Corporate Lobbying

TIME

When Comcast first announced its intent to merge with Time Warner Cable in early 2014, the conventional wisdom suggested that even though everyone knew it was a terrible, anti-competitive merger, Comcast would use its lobbying muscle to ram the deal through. After all, the company spends $17 million a year on lobbying. Its CEO, Brian Roberts, played golf with the President. Its chief lobbyist, David Cohen, organized a $1.2 million fundraiser for the President. Isn’t this how Washington works?

Now, with the news late last week that Comcast was backing out of the merger after regulators sent strong we-won’t-approve-this signals, everybody is trying to explain where the conventional wisdom got it wrong. Politico noted that, “opponents are hailing Comcast’s failed strategy as a welcome sign that money can’t buy everything in Washington.” Senator Al Franken (D-Minn.) attributed it to massive grassroots pressure: “We won because ordinary Americans can…

View original post 1,058 more words

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s