Categories: OLD Media Moves

Bloomberg wants more time to study deal for CNBC parent

Joe Flint of the Los Angeles Times reports that Bloomberg LP, which owns Bloomberg Television, is closely examining the deal by Comcast to acquire NBC, the parent of rival CNBC.

Flint writes, “First Bloomberg hired former Federal Communications Commission Chairman Kevin Martin as its legal gun in Washington, D.C. Now the financial media giant is asking the regulatory agency to give it more time to study the acquisition and review recent filings that Comcast and NBC Universal just made at the commission.

“What Bloomberg is concerned about is its rival CNBC getting an unfair advantage once the NBC-owned financial news channel becomes part of Comcast, the nation’s largest cable operator with almost 25 million subscribers. Bloomberg has not come out against the deal yet but may want the FCC to put conditions on any approval.

“CNBC is already the dominant business news channel in terms of ratings and reach. It easily beats Bloomberg and Fox Business. Compared with Bloomberg, CNBC has much better channel position on most cable systems. Even in 2010, where a channel is on the dial still matters. News channels like to be around other news channels and no one wants to be in the boondocks. Bloomberg doesn’t want Comcast to give CNBC better channel positions when its deal to take control of NBC Universal closes.”