Charter purchase of Time Warner slowed by federal regulators’ delay

Federal regulators have delayed by two weeks their informal deadline for reviewing Charter Communications’ proposed acquisition of Time Warner Cable.

The Federal Communications Commission said Monday it needs more time to investigate recent submissions about the deal’s potential impact on Time Warner’s regional sports networks and Charter’s residential pricing, among other things.

Charter, which was formerly based in the St. Louis area and still maintains a large employee base there, struck separate deals last spring to acquire Time Warner for $55 billion and Bright House Networks for $10.4 billion. The purchases would make Charter the country’s No. 2 cable and broadband provider, with 23.9 million customers in 41 states.

The informal six-month period federal regulators use to complete merger reviews will have 65 days remaining when the current delay ends, meaning the new informal deadline should fall in late March.

Read more from Bloomberg


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