Comcast-Disney OpEd

I ordinarily find Andy Kessler’s market comments fairly savvy, so I was somewhat disappointed to read his editorial in today’s WSJ on the Comcast-Disney deal. He points out that cable is a municipal monopoly, and then argues Comcast is buying Disney so that it has more cable channels, like ESPN, on which it can raise prices to other cable companies. His solution? The FCC and Justice lets the deal go through, preconditioned on opening up local markets to more cable competition.