The formal regulatory approval process for Comcast's proposed 51 percent acquisition of NBC Universal began last week. Comcast and GE filed its applications for transfer of licenses and public interest statement with the Federal Communications Commission and filed its Hart-Scott-Rodino notification with the Department of Justice.
In its FCC filing, Comcast and GE made the case that the transaction was pro-consumer, pro-competition and in the public interest. The cable giant also vowed to keep the broadcast network TV model.
While the regulatory bodies begin their reviews, two Congressional hearings have been scheduled for this week before the House Energy and Commerce Committee and the Senate Antitrust, Competition Policy and Consumer Rights Subcommittee.