Charter Communications Inc said its acquisition of Time Warner Cable Inc, which is awaiting clearance from US regulators, is now expected to close in the first quarter of 2016, and not by the end of 2015 as planned.
The $56 billion deal, announced in May, is subject to intense regulatory scrutiny as the combined company would control a big swath of the US cable and Internet market.
“Realistically, we think we’re looking at a first-quarter close,” Charter Chief Executive Tom Rutledge said on a call on Thursday to discuss the company’s third-quarter results.
The deal has been approved by the shareholders of both companies and most U.S. states, but is awaiting clearance from the U.S. Department of Justice and the Federal Communications Commission.
“From an operational perspective, we are working to be in a position to close as early as this year, but admittedly at this point that feels ambitious,” a Time Warner Cable executive said on a post-earnings call, declining to provide details.
Full content: The New York Times
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