Comcast-NBC U merger delayed

FCC will not complete its review until Jan.

With the year end looming, it’s clear that the FCC will not complete its review of the proposed Comcast-NBC U merger until January at the earliest. But the five members of the regulatory body will have a draft copy to consider.

D.C. sources indicate a draft order approving the sale with conditions will be circulated as early as Friday for a possible vote next month.

A Comcast spokesman declined comment on the possibility of a draft order. But Comcast previously confirmed that the proposed merger would not be consummated this year.

Said government affairs VP Sena Fitzmaurice: “We believe the FCC and the Dept. of Justice continue to make substantial process toward approval of our transaction. However, because of the lead time required to prepare for a close, it now appears that we will not be able to close the transaction with GE relating to NBC Universal by year-end.

“We have notified our transition teams that there will not be a Dec. 31 closing. We believe the regulatory review puts us on track for a closing in January 2011. We are appreciative of the hard work by the FCC and DOJ staff and by our own transition teams.”

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety