Comcast Corp will again be working with its longtime antitrust counsel at Davis Polk & Wardwell, as the communications and entertainment group seeks to navigate the U.S. approval process to merge with rival Time Warner Cable Inc. Comcast has used the New York-based law firm repeatedly for antitrust matters, most notably its successful bid beginning in 2009 to purchase a majority of NBC Universal from General Electric Co . A team of Davis Polk lawyers helped win U.S. Justice Department approval for that deal in January 2011.The two cable giants are proposing a $45.2 billion combination that is likely to face scrutiny from antitrust enforcers because of the deal's potential to reshape pay TV and broadband markets in the United States.In a news release, the companies said that Comcast's legal advisers were Davis Polk as well as Willkie Farr & Gallagher and that Time Warner's legal advisers were Paul, Weiss, Rifkind, Wharton & Garrison and Skadden, Arps, Slate, Meagher & Flom.The firms all failed to comment on their roles.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC traded higher by 0.31% or $0.45/share to $145.26. In the past year, the shares have traded as low as $84.57 and as high as $146.19. On average, 3290400 shares of TWC exchange hands on a given day and today's volume is recorded at 3721356.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 1.59% or $1.03/share to $65.63. In the past year, the shares have traded as low as $51.62 and as high as $70.77. On average, 5095120 shares of TWX exchange hands on a given day and today's volume is recorded at 1383004.
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