Comcast and Time Warner Cable (TWC) have moved back the date of their merger to mid-August.
The maneuver is largely a formality acknowledging delays that have already occurred.
Federal review of mergers are now restricted to 180 days, but the clock can be stopped under a number of circumstances.
Barring delays, Comcast’s acquisition of Time Warner Cable would have been completed by February. But there have been delays. Squabbles among companies who are party to the review, about who can see what documents in the proceeding, have repeatedly delayed the review process.
When the deal was announced, there was a general consensus that approval for the deal was inevitable. Comcast is still acting as if it is, but certainty is eroding among others.
If the deal were to go through, Comcast would be somewhat more dominant in the video market, but it would still face competition. Opponents of the deal have pointed out from the first that if the deal went through, Comcast would end up exceptionally dominant in the broadband market, with minimal competition.
Comcast and TWC announced that the end date on the merger would move to August 12 was announced in an 8-K filing with the SEC.
The notice reads that the merger agreement “contemplates that the ‘End Date’ of the Merger Agreement may be extended by a period of six months to August 12, 2015. Comcast and Time Warner Cable agree that the End Date is hereby extended to August 12, 2015, as contemplated by the Merger Agreement.”
Filed Under: Industry regulations
