clock menu more-arrow no yes

Filed under:

Multiple states join DOJ in reviewing Comcast's TWC purchase

New, 12 comments

Florida and other states have joined the US Department of Justice in reviewing Comcast's proposed buyout of Time Warner Cable. "We are part of a multi-state group reviewing the proposed transaction along with the US DOJ Antitrust Division," Florida's state attorney general's office told Reuters in a statement. The states, along with the Justice Department, are taking a close look at the controversial acquisition to determine whether it violates antitrust law. Comcast is the largest cable provider in the United States and announced its intent to buy Time Warner Cable — the second-place provider — last month.

Since then, many consumers and a wide variety of advocacy groups have voiced fierce criticism of the deal, though executives of both companies are painting a rosier picture. The $45.2 billion transaction would give a combined Comcast / Time Warner Cable just under 30 percent of the pay TV market. But more worrying to onlookers is that it would also hold an unprecedented one-third share of the high-speed internet market.