February 13, 2014
Comcast Corp. (CMCSA) agreed to acquire Time Warner (TWC) Cable Inc. for $45.2 billion in stock, a surprise deal that combines the two largest U.S. cable companies and creates a bulwark against competition from phone and satellite providers.
Time Warner Cable investors will receive 2.875 Comcast stock for each of their shares, the companies said in a joint statement today. The purchase values each Time Warner Cable share at $158.82, or 17 percent more than its closing price yesterday. The transaction, subject to approval by stockholders and regulators, is expected to be completed by the end of 2014.
Though I could not care too much less about cable television companies, this situation serves to illustrate the idiocy of a pure free market system. In such a system, the ultimate end is complete centralization of everything into one massive corporation which rules over the people will an iron fist.
Please, pay no mind to the idiot jabbering of libertarians about how less regulation somehow means more competition. It will only cause you confusion, and will likely ultimately drive you to suicide if you try and think too hard about what it is they are trying to communicate.
Under a fascist type economic order, the government would oversee and interfere with corporate business, in order to ensure that services to the people were maximized – which is basically the diametric opposite of what you have now.