Comcast, Time Warner Cable Merger Hearing Set for March 2625 Feb, 2014 By: Chris Tribbey
The Senate Judiciary Committee will hold its first hearing on the proposed Comcast-Time Warner Cable merger March 26, with legislators readying questions about the impact the $45.2 billion deal will have on consumers.
The merger would combine the nation’s two largest domestic cable companies, with more than 30 million video subscribers.
“Millions of Americans rely on cable connectivity to receive the programs they love and to access the Internet at the fast speed needed as we conduct more of our lives online,” said committee chairman Patrick Leahy (D-Vt.). “The merger of Comcast and Time Warner Cable touches on important policy questions about how Americans access these valuable services. It also presents a critical moment to discuss net neutrality principles that have allowed the Internet to remain an open marketplace for ideas.”
The hearing will be broadcast live over the Web.
“This hearing will be an opportunity to take a close look at the details of the proposed merger and how it will impact competition in the cable and broadband markets,” said Sen. Amy Klobuchar (D-Minn.), who chairs the Subcommittee on Antitrust, Competition Policy and Consumer Rights. “Consumers deserve fair prices and high-quality service for their TV and Internet access, and as chair of the Senate Antitrust Subcommittee I plan to carefully scrutinize these aspects of the proposed agreement.”