Less than a week after word surfaced that officials at the Department of Justice are leaning toward blocking the $45 billion acquisition of Time Warner Cable by Comcast, the proposed deal appears to have hit another major hurdle.
Bloomberg reports that the Federal Communications Commission, which also must approve the merger, now also is showing signs of blocking the transaction.
“Representatives of the two biggest U.S. cable companies were told that FCC officials are leaning toward concluding the merger doesn’t help consumers, according to a person with knowledge of the situation, who asked for anonymity because the discussions aren’t public,” Bloomberg reports.
The report adds: “Opposition from the FCC, which met on Wednesday with Comcast and Time Warner Cable executives, was stronger than the Justice Department’s and could be the bigger obstacle.”
Representatives of Comcast reportedly came away from Wednesday’s meeting feeling that the merger is in trouble, according to sources, the story reported.
The article also notes that “Comcast, which has said the deal will lead to improved services for customers, said it had no comment on the meetings.
“Spokesmen for the Justice Department and the FCC declined to comment on Wednesday’s meetings, as did Time Warner Cable.”
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