NEW YORK ( TheStreet) -- If all of a sudden, U.S. Government regulators permitted AT&T (T - Get Report) and Verizon (VZ - Get Report) to, between the two of them, add ESPN; the Fox Sports regional networks; all of Madison Square Garden's (MSG) properties (that includes the famous arena, the New York Rangers, the New York Knicks and so much more); The New York Yankees; part ownership in the Dallas Cowboys; Clear Channel's (CCMO) radio stations; and DirecTV (DTV - Get Report) to their stables, what would you do?As a consumer, you might be outraged. I guess I can get with that. But, not really, particularly because outrage over this type of ownership scheme packs more bark than bite, plus I view the world through an investing lens.
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