Exclusive: States to probe Comcast plan to buy Time Warner Cable

Wed Mar 19, 2014 12:17pm EDT
 
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By Diane Bartz

WASHINGTON (Reuters) - Florida and other U.S. states will join the Justice Department in seeking to determine if Comcast's plan to merge with Time Warner Cable is legal under U.S. antitrust law, Florida officials told Reuters.

Comcast shares slipped just over 1 percent, trading at $49.68 slightly before midday.

"We are part of a multistate group reviewing the proposed transaction along with the U.S. DOJ Antitrust Division," the Florida attorney general's office said in an email sent late on Tuesday.

It was not known how many states had joined the task force.

Indiana officials were also looking at the deal to determine "the potential impact in Indiana." Erin Reece, a spokeswoman for the Indiana attorney general's office, did not say whether Indiana was part of the multistate group.

Pennsylvania, where Comcast is headquartered, was "reviewing the case independently," said Joe Peters, a spokesman for the s state's attorney general's office.

The attorneys general group is focused on broadband rather than cable in assessing the $45.2 billion deal, according to a source familiar with the effort who was not authorized to speak on the record.

Comcast had no comment on the states' review of its proposed deal.   Continued...

 
The Time Warner Cable logo is displayed on the back of a van in New York February 13, 2014. REUTERS/Joshua Lott