The proposed merger of Comcast and Time Warner Cable has been making headlines, with the prospect of creating a cable company with 30 million television subscribers and even more broadband homes. The consolidation of cable in Europe under Liberty Global has received less attention. In both cases the number of video subscribers has fallen but revenues have risen, with earnings boosted by relatively high-margin broadband services. Expect to see further mergers as pay-television providers seek to acquire subscribers and scale through deals. It’s a numbers game.