The Bidding for Fox

I know I've used this space to hammer home my opposition to further media consolidation many times. I wrote a book ($everance) which showed the absurdities caused by the last big era of consolidation, and I've urged many times since then not to make the same mistake again.

Too late. It's happening again, and once again, it will be very bad for consumers and employees of those media giants.

Right now there is a bidding war going on over 21st Century Fox. Both Comcast and Disney are bidding, and bidding such ridiculous price tags that they will be in debt forever. Comcast bid $65 billion (with a B) last week. Disney is now bidding 71.3 billion (with a B)

You've seen what happens when six companies own all the media in this country. We're about to see what happens when only five companies do.