The U.S. Federal Communications Commission will not make a decision regarding the Time Warner Cable Inc TWC - Charter Communications, Inc. CHTR merger this week, Reuters reported.An FCC spokeswoman declined to comment.
Last May, Charter offered to buy Time Warner Cable for $56 billion in cash and stock, becoming the second-largest Internet and cable company in the U.S., only trailing Comcast Corporation CMCSA.
Related Link: Buckingham: Time Warner Worth $219 On Greater Charter Deal Certainty
Shot Clock
Back in September, the FCC started an informal 180-day shot clock of its review. The “shot clock” in question will expire on Friday, however, the agency said, "although the Commission seeks to meet the 180-day benchmark in all cases, its statutory obligation to determine that an assignment or transfer serves the public interest takes precedence over the informal timeline."
What this means is that the FCC will miss its informal deadline and continue to evaluate the implications of a Time Warner Cable-Comcast merger.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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