A PYMNTS Company

US: Comcast ignores FCC pessimism for TWC buyout

 |  December 9, 2013

Despite last week’s reports that the a member of the Federal Communications Commission suggested any buyout attempt by Comcast for Time Warner Cable would not earn approval, Comcast has reportedly hired an advisor for such an acquisition.

JPMorgan Chase has been hired by the cable giant on a deal, according to sources. If the development is any indication, the US may soon watch its number-one and number-two cable companies attempt a merger.

Reports say such a deal could reach $40 billion.

Last week, however, FCC Commissioner Ajit Pai told media that such a deal would be blocked due to the market power of each party.

Analysts say Charter Communications may also be in the works, potentially working with Comcast for a joint buyout bid for TWC.

Full Content: Dealbook

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.