Comcast and Time Warner to meet with DOJ to discuss merger2015-04-20 10:29 by Daniela
Tags: Comcast, Time Warner Cable
In an attempt to save their merger, Comcast Corp. and Time Warner Cable Inc. plan to meet with Department of Justice Officials this week to discuss the deal. This will be their first meeting since the potential merger was announced.
Staff attorneys in the Justice Department's antitrust division want to block the $45.2 billion deal because according to them, the creation of a nationwide cable giant would be against customers' interest.
Officials of the Federal Communications Commission are also concerned that a combined company would give too much power to a single player on the market and will therefore hurt competition.
"The regulatory process remains fluid, and we do not intend to comment on our interim dealings with the DOJ, FCC or other regulators," said Bobby Amirshahi, a spokesman for Time Warner Cable. "As we have said, we believe the transaction is pro-competitive, in the public interest and that there is no basis for regulators to block the deal."
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