Comcast's Power Unveiled, Courtesy of Apple

For a perfect picture of Internet access market power, unconstrained by competition or oversight, consider this week's rumor that Comcast Corp. is talking with Apple Inc. about developing a snazzy new window on television programming. The presumed goal is a service that feels just like online content -- as easy to use as Netflix -- but includes all the sports and first-run programming that Netflix doesn't have. Put that on a sleek Apple tablet, rather than a stodgy cable set-top box, then flood cities with Wi-Fi (as part of a Comcast bundle), and consumers will be hooked.

Since the rumor surfaced, Apple's stock price has soared and Netflix Inc.'s has plunged.