The media industry is busy evaluating the impact of a Comcast-Time Warner Cable merger even if the DOJ clips the size of the deal a bit.
A key word for content providers today is leverage. A larger Comcast (CMCSA), (broadband and Pay-TV) would give it additional clout in negotiating retransmission contracts with networks (CBS, FOXA, AMCX, DISCA, SNI) and studios (DIS, TWX, LGF, SNE, DWA, VIAB) for home video sales.
The relationship between streaming firms and Comcast could get more complicated. Though studios rake in money from Netflix, if Comcast ever decides to charge its massive base of broadband subscribers on a usage basis - both Netflix (NFLX) and Hulu are in harm's way.
Companies with future ambitions in the online TV area (think Sony) might see additional pressures from a larger Comcast. In theory, the media giant could launch a similar national service.
Related ETFs: PBS