With things looking dire for the Comcast–Time Warner Cable merger, the two companies have decided to meet with the Department of Justice in a bid to negotiate terms of getting in line with federal regulations says The Wall Street Journal. It’s the goal of Comcast and Time Warner Cable to ease the DoJ and the FCC’s regulatory concerns regarding the merger.
Prior to news of the meeting, it was reported that the DoJ was planning to submit a report to have the merger halted. Along those lines, it was said that both the DoJ and the FCC had plans to keep the merger from going through even if both companies got in line with desired regulation. Even with the regulatory developments and what looks like a no-win situation the two companies are optimistic about changing the department and the commission’s minds on this.
As mentioned last week, the gears in the merger first began turning February of last year. As is the case with most major mergers things were halted as a result of antitrust concerns that there would be no viable competition in this particular market.
Comcast’s assertion that even though it wouldn’t compete with Time Warner Cable anymore and that Google and a few others would be competition simply isn’t flying with the DoJ’s Antitrust Division at all. If this meeting will be able to woo the DoJ into allowing the merger to go through is a wait and see situation.