Comcast pushes back expected closing date for its acquisition of Time Warner Cable

Cable giant Comcast announced that the closing date for its acquisition of Time Warner Cable will be somewhere around mid of 2015.

Comcast proposed a $45 billion deal to unite the two largest US cable companies 13 months ago. The Merger was proposed to create an internet and TV giant that will serve nearly 30% of cable-TV subscribers and more than half of high-speed Internet subscribers.

After the announcement of transaction in February 2014, government regulators, which include The Federal Communications Commission (FCC) and Justice Department, would conclude their review by the end of that year or the beginning of 2015.

However, the government regulators want to examine the proposal intensely and are requesting massive amounts of information from both parties and their competitors. According to The FCC, the documents are a necessary part of assessing the merger.

The factor causing the delay is a fight between big TV channel owners and the FCC regarding the confidentiality of programmers' contracts with Comcast and other pay-TV providers.

Currently, the FCC has put a pause on the review and waits for a decision from a federal appeals court on whether dealmaking documents from major media companies can be viewed by other parties.

In a blog post yesterday, Comcast said that although it expected the deal to get finished in early 2015, the FCC delayed its review because of a pending court case. Now, the company expects the deal to be finished by mid-year.

There is a concern among consumer advocates that the merger would give Comcast control over too much of the country's Internet access. A federal court in Washington, D. C., heard arguments in the case in February but hasn't issued a decision.