Comcast says Time Warner deal going 'full steam ahead'
Reuters
Published Nov 12, 2014 06:48PM ET
Comcast says Time Warner deal going 'full steam ahead'
By Christina Farr SAN FRANCISCO (Reuters) - Comcast Corp's (O:CMCSA) merger with Time Warner Cable Inc (N:TWC) is going "full steam ahead" despite uncertainty around new rules governing net neutrality, Comcast Chief Executive Officer Brian Roberts told reporters on Wednesday.
The deal, which would create the largest U.S. cable Internet provider, is in its final phases and remains on track to close, he said at a Comcast press event in San Francisco.
Shares of both companies fell sharply on Monday, after President Barack Obama declared that Internet service providers should be regulated like public utilities, touching off protests from cable and telecoms companies.
Some analysts thought his comments cast uncertainty over how regulators intended to implement the principle of net neutrality, and in turn cast doubt on the merger deal.
"We are in the final stages of public comment. Sometimes things get slowed down in that phase," Roberts said. "We are full steam ahead."
Opponents to the deal have raised concerns that the sheer size of the eventually merged company would give it too much control over what Americans can watch on television and do online, as Comcast boosts its power as a buyer of web and pay-TV content.
If approved by regulators, the merger would result in a company that would serve just under 30 percent of the U.S. pay television video market. The merged provider would also serve between 20 percent and 40 percent of U.S. broadband subscribers, depending on whether wireless broadband offered by telecom companies is included, Comcast has said.
(Editing by Bernard Orr)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.