The state's decision on the Comcast-Time Warner Cable merger will not be made by the end of the year as previously projected.
Comcast and Time Warner have again agreed to grant state Department of Public Service staff additional time to review the proposed transaction, where Comcast would swallow-up Time Warner to create one cable mega-corporation out of the two industry leaders. Such extensions are not unusual, and are necessary because of time limits under federal utilities regulations; the state's review has already been extended twice.
Under this latest extension agreement, the state Public Service Commission — the decision-making board that the Department of Public Service reports to — will take action at or before its January 22, 2015, meeting. And if the commission makes a decision at that meeting, a final order would be issued by January 27.
When the Comcast-Time Warner deal was announced last year, it was valued at $45.2 billion. Under the deal, Time Warner's stockholders would get shares in the new, bigger company instead of cash payouts.