California has tentatively approved Comcast’s $45.2 billion acquisition of Time Warner Cable, but Comcast isn’t entirely happy because some of the conditions demanded by the state “create a more intrusive regulatory regime.”
The proposed approval with conditions came yesterday from Public Utilities Commission Administrative Law Judge Karl Bemesderfer. Comcast Executive VP David Cohen quickly wrote a response criticizing Bemesderfer’s proposed conditions.
“We are reviewing the proposed decision and conditions closely and look forward to engaging with the full California Public Utilities Commission (CPUC) as it completes its review of the transaction,” Cohen wrote. “While we have just received the recommended decision, it appears that a number of the conditions are ones that will benefit consumers and the company can work with. Some of the suggested conditions, however, could potentially prevent the full benefits of this transaction being realized by Californians, and create a more intrusive regulatory regime where innovative services could be hampered rather than helped. In addition, at least some of the suggested conditions simply lie outside the authority of the CPUC or are unrealistic.”
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