AT&T Broadband-Comcast Merger Moves Closer to Approval
Justice Declines to Seek Formal Review of Merger's Antitrust Aspects
The AT&T Broadband-Comcast merger moved closer to final approval earlier this week when the Justice Department's time to review antitrust aspects of the deal expired.
The agency's decision to allow the waiting period under U.S. antitrust law to expire without declaring a formal review greatly improves the merger's approval. The waiting period is required under the Hart-Scott-Rodino Antitrust Improvements Act to ensure that the government can prevent monopolistic mergers from going forward.
With the waiting period over, the law can no longer prohibit the parties from closing their deal. Closing could take place by November. The Department of Justice, however, said that it has not yet concluded its review of the deal. The merger also requires approval from the Federal Communications Commission.
The merger of AT&T's cable division (ATT Broadband) and Comcast will create AT&T Comcast, the largest U.S. cable company with more than 22 million subscribers.
