Sources tell Reuters that the attorneys general of a number of states are working with the U.S Department of Justice to review how the Comcast-Time Warner cable merger will affect the market for broadband Internet service.
Regulators are reviewing the Comcast-Time Warner cable merger to see if it complies with antitrust laws. The number of states that have joined in the federal review isn’t know, but Indiana is reportedly conducting its own evaluation of the Comcast-Time Warner cable merger’s impact.
Comcast has said it will shed 3 million cable TV subscribers to keep its share of the pay TV market under 30% in a bid to appease regulators. The Comcast-Time Warner cable merger must be approved by the Federal Communications Commission before it can go forward.
The $45 billion Comcast-Time Warner cable merger, announced last month, has drawn criticism that it will reduce competition, translating into higher charges to consumers.
CMCSA stock fell almost 1% in Wednesday morning trading, while TWC stock slipped slightly.
More Merger News: