If Comcast does in fact take on NBC Universal, it will be to the delight of Jeff Bewkes, CEO of Time Warner.
Speaking in Manhattan today, Bewkes said it’s hard to figure out how Comcast will get much value out of NBC.
Peter Kafka of Media Memo was on hand to record Bewkes thoughts on the deal:
“Somebody has finally noticed that these things don’t work out so well,” he said, adding “We love to see our competitors taking risks.”
But just to hammer that point home, Bewkes compared the proposed deal to the one his company made nine years ago, when it embarked on an ill-fated merger with AOL. That deal (made when Bewkes was running Time Warner’s HBO unit) “basically made no sense” at the time, he said.
The main talking point in favour of that transaction — that connecting Time Warner’s content with AOL’s Internet distribution would create synergy — was “nonsensical,” he said. But “these kind of arguments, you’ll hear some of them this week, in the other merger that we’ve been talking about,” Bewkes said.