U.S. regulators should challenge the proposed $45 billion merger of the two largest American cable providers, Comcast Corp and Time Warner Cable Inc, the New York Times said in an editorial in Tuesday's newspaper. The editorial, headlined "A Cable Merger Too Far," said there were good reasons for the Justice Department and the Federal Communications Commission to block the proposed purchase of Time Warner Cable by Comcast. The Times cited limited competition in the high-speed Internet market and Comcast's negotiating power with Web content companies and TV programmers."The merger will concentrate too much market power in the hands of one company, creating a telecommunications colossus the likes of which the country has not seen since 1984 when the government forced the breakup of the original AT&T telephone monopoly," the editorial said."By buying Time Warner Cable, Comcast would become a gatekeeper over what consumers watch, read and listen to."The Federal Communications Commission is reviewing whether the merger is in the public interest, and the Justice Department will decide whether it complies with antitrust law. Public interest groups and some legislators have opposed the combination.
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 0.08% or $0.11/share to $141.39. In the past year, the shares have traded as low as $92.87 and as high as $147.28. On average, 2681120 shares of TWC exchange hands on a given day and today's volume is recorded at 2129412.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.13% or $-0.09/share to $70.59. In the past year, the shares have traded as low as $55.71 and as high as $71.40. On average, 5556500 shares of TWX exchange hands on a given day and today's volume is recorded at 3519481.
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