Charter Communications - Time Warner Cable Merger Delayed At FCC

(RTTNews) - The Federal Communications Commission or FCC pushed back by two weeks its informal deadline to complete a review of Charter Communications Inc.'s (CHTR) purchase of Time Warner Cable Inc. (TWC).

The Commission said it needs more time to examine recent filings on the deal's potential impact to the distribution of Time Warner Cable's regional sports networks and Charter's residential pricing and packaging methods, among other things.

The Commission noted that it is pausing its 180-day informal time clock for 15 days, until January 20, 2016. It believes that the action will contribute to a more efficient and expeditious review of the proposed transaction.

In May 2015, Charter Communications agreed to acquire Time Warner Cable in a cash-and-stock deal. Including debt, the deal valued Time Warner Cable at $78.7 billion.