The top U.S. antitrust regulator, Bill Baer, will be recused from reviewing Comcast Corp and Time Warner Cable Inc's proposed merger, the U.S. Justice Department said on Thursday. The investigation will instead be overseen by Principal Deputy Assistant Attorney General Renata Hesse and Deputy Assistant Attorney General David Gelfand.In a statement, the Justice Department did not say why Baer recused himself.But when Comcast was buying NBC Universal, a deal that was concluded in early 2011, Baer, then a partner at the law firm of Arnold & Porter, represented NBCU's owner, General Electric .The Comcast deal for Time Warner Cable will also be reviewed by the Federal Communications Commission.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 0.57% or $0.389/share to $68.87. In the past year, the shares have traded as low as $55.17 and as high as $70.77. On average, 5440430 shares of TWX exchange hands on a given day and today's volume is recorded at 2505290.
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