If anyone was wondering how much Comcast might spend on lobbying and bribery to preserve their franchises, here’s a brief analysis of what they stand to lose.
According to this, it’s something in the order of tens of billions of dollars that will be erased from their holdings: “Comcast (CMCSA) currently lists its cable video franchises as nearly half ($51 billion) of its over $104 billion dollars of assets.”
Of course, that number is probably just an arbitrary assessment by some of Comcast’s Enron-style accountants. The real danger for the cable industry is simply that Wall Street will take a closer look at their asset list. In other words, if you hill watchers are sure that national franchising is on the way, then we could fund a media reform movement by shorting CMCSA (betting that the Comcast stock price will drop).
As I was writing this, I found this confirmation: The Street.com: Pull the plug on cable stocks. So act fast!