The FCC paused the clock on approving Comcast and Time Warner Cable’s proposed $45 billion merger. The delay comes at a sensitive time for major Internet service providers, including Comcast and Time Warner Cable as the FCC also considers new rules overseeing the Internet. The fundamental question the FCC is considering is whether the combination of the two companies would be in the best interest of the public. In early December, the FCC learned that 7,000 pages of documents had been ‘withheld based on an inappropriate claim of attorney-client privilege,’ and last week discovered an additional 31,000 pages had not been submitted due to ‘vendor error,’ according to a letter from the agency to the two companies. The late filing of the documents will require the FCC to re-open investigations into sections previously thought closed. Comcast said it is ‘confident that any outstanding documents will be produced to the FCC in an expedited manner,’ a representative told re/code. ‘We remain on track for the transaction review to be concluded early in 2015.’
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
