*The National Coalition of African American owned Media (NCAAOM) recently praised the FCC’s decision to extend the comment period for the controversial proposed merger between Comcast and NBC Universal (NBCU).
“It’s now clear the FCC recognizes the tremendous impact this merger will have on American society,” says Stanley E. Washington, NCAAOM President & CEO. “For decades Comcast has shut the door to African American ownership of channels. The stakes are extremely high and we are going to hold everyone accountable, especially the pension funds that have investments in Comcast. As far as we are concerned, those pension funds are supporting apartheid right here in America.”
Although Comcast has 250+ channels on its platform distributed to approximately 25 million homes, there are no channels which are 100% African American owned. Currently, African American consumers have more than $1.5 trillion of spending power.
According to Nielsen Media Research, African Americans watch 40 percent more television than other American demographics and are more likely to have more than one television in their homes.
NCAAOM wants a minimum of 25 channels set aside for African American ownership.