Comcast pushes its Time Warner acquisition deal ahead regardless of the doubts mentioned by Barack Obama.
Recently, President Barack Obama announced the imposition of strict rules and regulations on high-speed Internet service provider. He stated that internet service providers should be controlled like several other public utilities.
Brian Roberts, the CEO of the company stated that the uncertainties of the firm can put a stop on some major future investment. Therefore, the mass media firm plans to finish this deal in the first quarter of 2015.
Moreover, Robert expressed that no doubt some time things do not move as per the plan. However, the company still aims to spend $20 billion over its internet services in the next two years.
On the other hand, the FCC closely analyzed its regulations on the request of federal court. The court appealed that overturned guidelines which was planned to ensure equality in the Internet traffic. This notion is generally known as “net neutrality”.
On the flip side, shares of the two companies fell badly after the proclamation of Barack Obama. A few analysts believe that Obama’s remarks indicated towards the uncertainty on the principle of net neutrality of the regulators.
The agreement would definitely give birth to the biggest U.S cable Internet provider. Nevertheless, a few people think that the merger would give a lot of control to the company on the American Televisions.
A Comcast spokesman stated that this amalgamation would produce a company which would serve merely 30 percent of the U.S pay television video market.