I thought it was a given that the "bottom" of concentration was a bad thing. Not so? More tomorrow then...
Monopoly is a bad thing, to be sure. But the FCC's rules don't act to prevent monopoly. That's what we have antitrust laws for. The FCC's rules do something more - something whose value has never been very clear to me. My point is this - if Pfizer and Eli Lilly want to merge, we have a set of rules for dealing with whether we allow this to happen, and on what terms. Why should the rules be more stringent when its Viacom and Fox?