Friday, July 9, 2010

Comcast/NBCU Pledge Diversity Channels

Despite one senator's efforts, Comcast continues to have no plans to divest its stake in Hulu if a joint venture with NBC Universal is completed. But looking to appeal to legislators, Comcast pledged to add eight independent TV networks -- four each controlled by African-American and Hispanic interests -- to its cable system, while creating a $20 million fund to assist minority entrepreneurs.
Sen. Herb Kohl (D-Wisc.) has asked that the joint venture sell its stake in Hulu within a year of the transaction closing, arguing that the merged company could stifle competition in the online video space.

Yet in a letter to Rep. Bobby Rush (D. Ill.) released Thursday, Comcast said that except for a Spanish-language local station in Los Angeles, "no additional divestiture of media assets is contemplated in connection with the NBCU transaction."

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