Comcast expects to close to Time Warner Cable deal in early 2015
Reuters
Published Feb 24, 2015 10:53AM ET
Comcast expects to close to Time Warner Cable deal in early 2015
(Reuters) - Comcast Corp (NASDAQ:CMCSA.O) said on Tuesday it was "optimistic" that it would close its $45 billion deal to buy Time Warner Cable Inc (NYSE:TWC) in early 2015.
Chief Executive Officer Brian Roberts said during a conference call on Tuesday that lots of information-gathering was taking place between Comcast and U.S. regulators.
Chief Financial Officer Michael Angelakis said: "We are optimistic and feel comfortable" that the deal will close in early 2015.
The merger is being closely watched, especially as the government considers tightening rules on how broadband Internet service is provided. Comcast is one of the leading broadband and cable providers in the United States.
Later this week, the Federal Communications Commission will vote on whether to regulate broadband service companies like telephone companies.
Roberts reiterated Comcast's position, calling the proposal "antiquated."
Comcast earlier on Tuesday said fourth-quarter revenue rose 4.8 percent to $17.73 billion.
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Written By: Reuters
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