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In his feisty opening statement, Franken said: "I worked for NBC for many years. And what I know from my previous career has given me reason to be concerned--let me rephrase that, very concerned--about the potential merger of Comcast and NBC Universal. The media are our source of entertainment, but they're also the way we get our information about the world. So when the same company that produces the programs runs the pipes that bring us those programs, we have a reason to be nervous.... You'll have to excuse me if I don't just trust their promises and that is from experience in this business." The former SNL star and entertainment industry insider-turned-Senator is dead on with his concerns. As Free Press--the media reform advocacy organization founded by The Nation's John Nichols, media scholar Robert McChesney, and current executive director Josh Silver-- points out, the merger would result in Comcast controlling one in every five television viewing hours. It would lead to fewer choices of what you can watch and how you can watch it. Those cable bills that continue to rise would rise even higher, and if you don't use Comcast you might have to pay a premium to get NBC's shows. There will be even less access to local and independent programming as Comcast would promote NBC's shows at their expense. And, finally, there's the even larger issue of concentrating power and limiting access to free public interest media.

"International cable company Liberty Global Inc. has reached a deal to sell its stake in a Japanese telecommunications-services provider for $4 billion, a transaction that will help it focus on consolidation of the European cable-TV industry."

"Time Warner Inc. is considering a bid of $1.2 billion to $1.5 billion for the Metro-Goldwyn-Mayer Inc. film studio, according to two people with knowledge of the discussions, as second-round offers come due tomorrow. Warner Bros. executives, including Chief Executive Officer Barry Meyer and Chief Operating Officer Alan Horn, will iron out a possible price tomorrow with Time Warner CEO Jeff Bewkes, said one of the people, who declined to be named because the talks are private. Time Warner may decide not to make an offer, the people said."