Comcast 'Optimistic' Unpopular Time Warner Cable Sale Will Close In Early 2015
It was a year ago this month when cable giant Comcast announced that its board of directors approved a definitive agreement to acquire Time Warner Cable (TWC) in a deal worth about $45 billion. Given the size of the two companies, the possibility of joining forces immediately drew anti-competitive concerns, though a year later, Comcast is confident the deal will get done.
As U.S. regulators continue to look into the deal and what impact a merger of two of the largest cable companies in the country would have, Comcast Chief Executive Officer Brian Roberts said during a conference call that there's a lot of information gathering taking place between both sides.
Presumably that also includes listening to complaints and what other companies have to say on the matter. One of the most vocal opponents to the proposed merger has been Discovery Communications, which fears that "Comcast could use its enhanced leverage from the proposed merger to impose onerous terms that jeopardize the ability of independent programmers like Discovery to continue to investing in a diverse portfolio of content and brands."
Discovery's opposition prompted Comcast to file a 1,000 page document with the Federal Communications Commission (FCC). In it, Comcast claimed that Discovery and others opposed to the deal were using the proceedings simple to promote their own financial interests.
Despite the opposition, Comcast Chief Financial Officer Michael Angelakis said that he and his company "are optimistic and feel comfortable" that the deal will close very soon.
As U.S. regulators continue to look into the deal and what impact a merger of two of the largest cable companies in the country would have, Comcast Chief Executive Officer Brian Roberts said during a conference call that there's a lot of information gathering taking place between both sides.
Presumably that also includes listening to complaints and what other companies have to say on the matter. One of the most vocal opponents to the proposed merger has been Discovery Communications, which fears that "Comcast could use its enhanced leverage from the proposed merger to impose onerous terms that jeopardize the ability of independent programmers like Discovery to continue to investing in a diverse portfolio of content and brands."
Discovery's opposition prompted Comcast to file a 1,000 page document with the Federal Communications Commission (FCC). In it, Comcast claimed that Discovery and others opposed to the deal were using the proceedings simple to promote their own financial interests.
Despite the opposition, Comcast Chief Financial Officer Michael Angelakis said that he and his company "are optimistic and feel comfortable" that the deal will close very soon.
