Consumer advocate Jeff Chester lashed out at Comcast Corp. Wednesday for offering $66 billion to buy The Walt Disney Co. in an all stock-deal representing the largest combination ever of cable, broadcasting and movie assets.
"This is going to be bitterly fought," said Chester, executive director of the Center for Digital Democracy. "It's clear that [Comcast CEO] Brian Roberts is out of touch as a citizen."
Because the deal involves the transfer of TV and radio stations, the Federal Communications Commission will have to approve it to assure that it will promote the public interest.
Either the Department of Justice or the Federal Trade Commission will also review the deal under antitrust laws.