Not so long ago, the field of cable TV was a small-time business. Dozens of local networks, often run by families—think John Rigas' Adelphia Communications, for example—operated within tiny jurisdictions that regulators carved out as franchises. Now, with the cable industry scaling up to take on telecom in traditional telephony areas, those local barriers and small family players are giving way to giants—many of which may soon go global with private equity buyouts. .....

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