Comcast Corporation (CMCSA) Recruits Best For Lobbying For Time Warner Cable Inc (TWC) Deal
Those who have benefited in one way or the other from Comcast Corporation (NASDAQ:CMCSA) are strongly lobbying in favor of the company taking over Time Warner Cable Inc (NYSE:TWC). While some letters praised the company, others have urged the federal government to keep away from the planned takeover of Time Warner. Some of them have also sought approval in favor of the company.
For instance, Nutmeg Big Sisters and Big Brothers in Connecticut, Dan Marino Foundation and the Houston Area Urban League have all sent letters either praising or urging approval for Comcast Corporation (NASDAQ:CMCSA)’s planned takeover of Time Warner Cable Inc (NYSE:TWC). Elected officials, such as Fred Crespo and Gov. Phil Bryant have also endorsed the views expressed by others.
Bryant said that the merger would not prevent competition and viewed that they would bring better technology to a number of fresh consumers. The interesting point was that the cable company paid those who sent letters. This was either for the charitable trust or corporation or a political contribution.
The support that Comcast Corporation (NASDAQ:CMCSA) was able to muster indicated the kind of aggressiveness that it could generate from those who benefited from it. It could well be a repeat of what happened in 2010, when the company was trying to buy NBCUniversal.
Value Of Deal
Comcast Corporation (NASDAQ:CMCSA) has been trying to get a big network of allies to force the regulators to approve Time Warner Cable Inc (NYSE:TWC)’s transaction, worth about $45 billion. The cable company has roped in a big team of 124 lobbyists, who were working for it since last year.
The Federal Communications Commission was pressured by those who were opposed to the acquisition. Only a few members from Congress seem to have signed letters favoring the transaction. In comparison, the NBC review got the support of at least a dozen Congress members.
Comcast Corporation (NASDAQ:CMCSA)’s EVP, David Cohen, said that he was proud about the campaign for the transaction and documentation for regulators as to why it could make sense.
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