The Federal Communications Commission just waved through Charter Communications' acquisition of Cox, creating the nation's biggest internet provider. The justification? The companies don't directly compete in most places, so the FCC sees "no reason to worry about higher internet prices."

This is the telecom playbook, refined over decades: buy up regional monopolies, claim there's no competition concern because you weren't competing anyway, and leave consumers with fewer choices and higher prices.

Here's what makes this decision particularly frustrating: the FCC is technically correct. Charter (which operates the Spectrum cable brand) and Cox largely serve different geographic markets. They're not head-to-head competitors in the traditional sense.

But that analysis completely misses how regional monopolies work. The problem isn't that Charter and Cox competed before and won't after. The problem is they never competed in the first place, and this merger removes any possibility they ever will.

Cable companies carved up America into territories decades ago. You get one choice, maybe two if you're lucky. That's not a competitive market - it's a system of regional monopolies with a gentleman's agreement not to step on each other's turf.

The merger makes that worse by consolidating power. A bigger Charter has more leverage with content providers, more lobbying resources, less incentive to invest in infrastructure improvements, and more ability to raise prices without losing customers (because where else are they going to go?).

Protests against the merger focused on exactly these concerns. Consumer advocates argued that combining two large regional monopolies creates a national monopoly in everything but name. The FCC disagreed, applying antitrust frameworks designed for competitive markets to an industry that hasn't been competitive in decades.

What's particularly galling is the language. already pays some of the highest broadband prices in the developed world for mediocre service. Consolidation has consistently led to price increases in telecom. The idea that this merger will be different requires ignoring decades of evidence.