News

Comcast defends Time Warner merger as review kicks off

Comcast defends Time Warner merger as review kicks off

TOO BIG?: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. Photo: Reuters

By Alina Selyukh and Liana B. Baker

WASHINGTON/NEW YORK (Reuters) – 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.

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.

In the filing, Comcast reiterated that Comcast and Time Warner Cable do not directly compete in any markets, meaning no consumer would lose a choice of an Internet or cable provider, as Comcast instead would boost the quality of Time Warner Cable’s services and bring faster Internet speeds.

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.

Opponents have raised concerns that the combined company will have too much power over what Americans can watch on television and do online.

In Tuesday’s filing, Comcast argues that such concerns are unwarranted, especially given the growing competitiveness of both the video and the Internet markets.

All of Comcast’s and Time Warner Cable’s businesses compete with “array of sophisticated companies with national or even global footprints,” including satellite and telecom companies, the companies said in the filing.

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. They are expected to face questions about the combined company’s reach into broadband markets.

(Editing by Matthew Lewis)

Recent Headlines

in National, World

Israel intensifies Gaza assault, Egyptians revise truce plan

Fresh
A Palestinian firefighter reacts as he tries to put out a fire at Gaza's main power plant, which witnesses said was hit in Israeli shelling, in the central Gaza Strip July 29, 2014.

Israel knocked out Gaza's only power plant, while Egyptian mediators prepared a revised proposal for halting its war with Islamist militants in the enclave.

in Sports

Star sprinter Torrin Lawrence dies at 25

FILE - In this June 20, 2013 file photo, Torrin Lawrence reacts after his heat in the senior men's 400-meter dash at the U.S. Championships athletics meet in Des Moines, Iowa. Former University of Georgia 400-meter runner Torrin Lawrence died in a car accident early Monday, July 28, 2014 in Cordele, Ga. He was 25.

Celebrated track star Torrin Lawrence has been killed in a tragic road accident in Georgia.

in Lifestyle

Fist bumps relay 90 percent less germs than handshakes

President Barack Obama fist bumps the cashier after paying for his order at Franklin Barbecue in Austin, Texas on July 10, 2014.

Replacing handshakes with fist bumps could help cut down on the spread of bacteria and illnesses, according to a new study.

in Lifestyle

Sony looks to revive the Playstation network

A white Sony Playstation 4 is on display at the 2014 Electronic Entertainment Expo, known as E3, in Los Angeles, California on June 11, 2014.

Sony Corp is hammering out plans to rise from the ashes of nearly $10 billion lost in six years by building a future around the PlayStation.

in Lifestyle

Apple updates MacBook Pro laptops, cuts price of older model

The Apple logo is pictured on the front of a retail store in the Marina neighborhood in San Francisco, California on April 23, 2014.

Apple Inc said it updated its MacBook Pro line of laptops with a high-resolution Retina display, faster processors and higher memory for a starting price of $1,299.