FCC delays review of Charter and Time Warner Cable
The US Federal Communications Commission (FCC) has again pushed back its deadline to complete a review of Charter Communications’ acquisition of Time Warner Cable (TWC).
Regulators said more time is needed to examine recent filings on the deal’s potential impact to the distribution of TWC’s regional sports networks – TWC SportsNet and SportsNet LA – as well as Charter’s residential pricing and packaging methods.
The FCC will pause its 180-day informal time block for 15 days, until January 20 2016.
“We believe this action will contribute to a more efficient and expeditious review of the proposed transaction,” said the regulatory body. This follows an earlier delay from the regulator in December 2014.
In May 2015, Charter announced its acquisition of TWC and Bright House Networks in a cash-and-stock deal valued at $55.1 billion, making it the second largest internet and cable company. Charter said last year that it plans to complete the merger in Q1 2016.