NHMC Testifies on Proposed Comcast and NBCU Merger at the Judiciary Committee Hearing

NHMC Testifies on Proposed Comcast and NBCU Merger at the Judiciary Committee Hearing

Los Angeles, CA - On June 7, 2010 NHMC President and CEO, Alex Nogales, testified on the proposed merger of Comcast and NBC Universal at a hearing before the U.S. House of Representatives, Judiciary Committee. Nogales indicated that NHMC will oppose the merger unless "strong, verifiable and enforceable conditions are imposed and agreed to by Comcast," including conditions aimed at increasing diversity in employment, governance, procurement, programming, media ownership and philanthropy.

Nogales insisted that this deal requires very careful examination, providing the Committee with the following statistics:

In 2008, Comcast earned over $34.3 billion in revenue. NBC earned $16.9 billion. Comcast reaches one in four cable subscribers and its service territory covers 52% of all ethnic cable households. NBC owns 25 local television stations and the national broadcast network reaches 99% of U.S. homes with television sets. Reports have indicated that Comcast enjoys an 80% profit margin.

Click here to read the full testimony.