US: Charter-TWC merger review delayed

The US Federal Communications Commission said it is delaying its informal deadline by 15 days to review the proposed $56 billion merger of cable rivals Charter Communications and Time Warner Cable.

This delay in the 180-day countdown will give the regulators sufficient time to review the new information filed by the companies, throughout December, regarding Charter’s residential pricing and packaging methodology and its plan to deploy a new low-cost broadband service, the commission said in a letter to companies.

The 15-day pause, which is now set to conclude on Jan. 20, will also allow the regulator to look at proposed transaction’s impact on the distribution of Time Warner Cable’s regional sports networks, the commission added in the letter, posted on its website, on Monday.

FCC’s so-called 180-day “shot clock”, which was started in September, is used as guidance, though it is often surpassed.

Charter said in May that it would buy Time Warner Cable in a cash-and-stock deal that would make it the No. 2 U.S. Internet and cable company after Comcast.

The deal has been approved by shareholders of both companies and most U.S. states, but is awaiting clearance from the US Department of Justice and the Federal Communications Commission.