Comcast-NBC Universal team-up could kill free Web TV

In July, 158 million people watched free television shows online, according to market tracker ComScore Inc. That number marked the largest audience ever recorded. But could the figures plummet if Comcast Corp. (CMCSA) makes good on its plan to buy the majority stake – worth about $35 billion – in media and entertainment giant NBC Universal? More to the point, could Comcast even get away with monetizing Web TV?

Comcast, the largest cable operator in the United States, very well could put a price on NBC’s Hulu, the go-to site for programming from popular first-run shows such as “The Office” to feature-length films of yore (“Fear and Loathing in Las Vegas,” anyone?). Such a move would put Comcast in front of its rivals in the race to monetize online video – even the gurus at Google Inc. (GOOG) have yet to make YouTube profitable. However, Comcast could not implement the strategy without substantial resistance from lawmakers...