Shares of streaming video company Netflix (NASDAQ:NFLX) were up big today after it announced a strong quarter, which included beating analyst estimates for EPS and meeting estimates for revenue. Even more important, the company saw its total number of subscribers grow to 48.4 million, a new high. 

But the real highlight from Netflix was the comments from Reed Hastings about the proposed Comcast (NASDAQ:CMCSA) and Time Warner Cable (UNKNOWN:TWC.DL) merger. Despite the fact that Netflix recently made a deal with Comcast to pay extra for faster streaming service, Hastings has said that he doesn't approve of the upcoming merger. But Hastings' fears may be justified: A combined Comcast and Time Warner Cable would create a titan in the cable industry whose services would be available to 70% of the U.S. population. 

So what's the next step in this saga that investors should be watching for? On today's Stock of the Day, Motley Fool analyst Michael Finarelli says he'll be watching the merger proceedings between Comcast and Time Warner Cable closely, as will Federal regulators. Regardless of that, Michael believes that Comcast's position as a sort of toll bridge for cable and Internet streaming gives it an extremely strong hand.