Comcast: Merger Won’t Be Complete Until 2015
Comcast now believes it will complete its merger with Time Warner Cable in 2015 — a delay from its original estimates of closing the deal by year’s end.
Multichannel News reports the delay is expected because of a slower-than-expected approval process with federal regulators:
“We expect to complete the merger in early 2015 due to our current expectations regarding the timing of certain regulatory approvals, subject to satisfaction (or, to the extent permitted by applicable law, waiver) of the conditions to the parties’ obligations to complete the merger,” Comcast said in the filing (with the SEC). “However, no assurance can be given as to when, or if, the merger will be completed.”
Comcast has been asked by the Federal Communications Commission to provide information on a range of its business practices, from programming agreements with sports leagues to Internet traffic management and data caps imposed on customers.
The FCC’s demand for data, common as part of any agency review of an acquisition, posed many questions to Comcast that get to the heart of objections raised by consumer groups, competitors and some customers. The queries included whether Comcast slows or hinders programming by rivals, has studies about how consumers view the company’s services and how the merger would effect its carriage of local sports broadcasts.
The Federal Communications Commission is reviewing the proposed merger. Its public comment period on the issue expired on Monday.