American markets were rocked last week by the news that the nation's largest cable company is chasing a mouse. Comcast has set its sights on Walt Disney, which has already rejected a $54bn offer from the cable group. But if Comcast does catch its prize, it will become the largest media company in the world.

What that will mean was the subject of another important announcement last week. It received less attention than the Disney offer but may ultimately prove more significant.