Nice analysis. As usual the way the sausage is made is to make sure that people involved in these things make money and the government consumer protection role is vacant. Of course if imaginary property wasn't protected by the same government who doesn't give a shit about consumer protections, then these types of mergers wouldn't matter. Show runner could still create their same shows and just stream them on the internet even if all the traditional broadcaster were owned by a single hostile entity.

tl;dr, Copyright and Intellectual property rights haven't increased the public good since before Walt Disney died, time to abolish them.