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U.S. Senate panel delays hearing on Comcast merger [March 26, 2014] WASHINGTON (Reuters) — The U.S. Senate Judiciary Committee has postponed a hearing on Comcast's plan to merge with Time Warner Cable until April 9, the committee said on Tuesday. |
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The hearing had previously been scheduled for
April 2. The committee gave no reason for the delay. Comcast, the No. 1 U.S. cable operator, has announced plans to
buy rival Time Warner Cable for $45.2 billion. The deal has raised eyebrows, although Comcast has pledged to
divest 3 million subscribers, so the combined customer base of
30 million would represent just under 30 percent of the U.S. pay
television video market. A combined Comcast and Time Warner
Cable would also have roughly one-third of the high-speed
Internet market. The proposed transaction is subject to approval by the U.S.
Federal Communications Commission and the U.S. Justice
Department. (Reporting by Diane Bartz; editing by Tom Brown) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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