“Comcast Corp’s merger with Time Warner Cable Inc would not deprive consumers of TV or broadband choices and would help the two companies compete against newcomers including Google Inc and Apple Inc in the video market, Comcast told U.S. regulators on Tuesday,” Alina Selyukh and Liana B. Baker report for Reuters. “Comcast’s 175-page filing with the Federal Communications Commission formally launches the regulatory review of the proposed $45.2 billion merger between the No. 1 and No. 2 cable operators. The U.S. Department of Justice will conduct the antitrust review and the FCC will examine whether the deal is in the public interest.”
“Comcast has pledged to divest some cable subscribers so the combined company would serve just under 30 percent of the U.S. pay television video market. The company said it would serve between 20 and 40 percent of the U.S. broadband subscribers,” Selyukh and Baker report. “Opponents have raised concerns that the combined company will have too much power over what Americans can watch on television and do online.”
“Comcast’s filing comes a day before the company’s executive vice president, David Cohen, and Time Warner Cable’s finance chief, Arthur Minson, are scheduled to testify in Congress,” Selyukh and Baker report. “They are expected to face questions about the combined company’s reach into broadband markets.”
Read more in the full article here.