U.S. Federal Communications Commission on Monday once again paused its review of the proposed $45 billion merger of Comcast Corp and Time Warner Cable Inc, citing delays in getting documents from Time Warner Cable.The FCC is studying whether the merger, which would combine the two biggest U.S. cable companies, is in the public interest. It had self-imposed an informal 180-day countdown for the review, which will now be paused at day 104 until January 12.The FCC said it learned this month that Time Warner Cable had improperly withheld more than 7,000 documents the regulators had requested, based on an "inappropriate claim of attorney-client privilege." The agency learned later that more than 31,000 requested documents were missing due to a vendor error.Time Warner Cable submitted the privileged documents in early December but expected to deliver a revised "privilege log" in mid-January. The FCC had asked the companies to respond to its data request by September 11.
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 0.51% or $0.76/share to $150.07. In the past year, the shares have traded as low as $128.78 and as high as $155.32. On average, 2846750 shares of TWC exchange hands on a given day and today's volume is recorded at 4693041.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 0.75% or $0.64/share to $85.57. In the past year, the shares have traded as low as $58.22 and as high as $88.13. On average, 5272250 shares of TWX exchange hands on a given day and today's volume is recorded at 2732285.
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