Comcast-Time Warner Cable deal faces probe from US states ift.tt/1qURCz9 (Credit: Marguerite Reardon/CNET) Comcast will now have to deal with US states as well as the US Justice Department if it expects to win approval to buy Time Warner Cable. Florida is part of a multistate group investigating the proposed merger to make sure if doesnt run afoul of antitrust laws, the Florida state attorney generals office told CNET on Wednesday. Related posts Comcast adds 18 live-streaming channels to Xfinity TV Go Why a Comcast merger could be good for TWC customers Time Warner Cable CEO reiterates confidence in Comcast deal Comcast to offer House of Cards to Xfinity customers Rereading the tea leaves in the Netflix-Comcast deal We are part of a multistate group reviewing the proposed transaction along with the U.S. DOJ Antitrust Division, the Florida state attorney generals office said to CNET in an e-mailed statement. The matter is also being looked at by the FCC. It would not be appropriate to comment further at this time. Officials with the AGs office in Indiana told Reuters that they were investigating the deal but didnt say if they were part of the multistate group. The group reportedly is looking into the deals possible effects on the broadband market rather than the cable industry, one source told Reuters. As noted by the Florida state attorney generals office, Comcasts $45.2 billion bid to acquire Time Warner Cable has already aroused the attention of both the Justice Department and the Federal Communications Commission. Though the Justice Department typically investigates such potentially huge mergers, the FCC has a role here in making sure the public interest is protected. Despite any concerns among federal and state regulators, Time Warner Cable CEO Rob Marcus believes the deal will go through. I have every confidence that the deal will close, Marcus said at the Deutsche Bank Media, Internet & Telecom Conference last week. We wouldnt have signed the deal if we didnt think it would get done. Related Links:Why a Comcast merger could be good for TWC customersTime Warner Cable CEO reiterates confidence in Comcast dealSenate hearing on Comcast, TWC merger set for March 26Netflix reaches streaming traffic agreement with ComcastComcast extends Internet Essentials program indefinitely
Posted on: Wed, 19 Mar 2014 17:00:41 +0000
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