Comcast to acquire Time Warner Cable despite Obama’s Call for tougher Regulations
Media major Comcast CEO Brian Roberts has signaled that the company will move with all its energy and enthusiasm with its $45 billion acquisition of Time Warner Cable despite the US President Barack Obama's announcement that tougher regulations could be implemented for companies offering high-speed Internet service.
In order to seal the deal with Time Warner, Roberts said that company will fulfill all its commitments and intends to spend approximately $20 billion to improve Time Warner's Internet service and other products. The money will be spent during the next two years.
Roberts talked about his and company's plans during a presentation on Wednesday in San Francisco. His remarks were very different from Randall Stephenson, CEO of AT&T, an American telecommunications corporation headquartered in Texas. Stephenson said that AT&T will not pursue any deal unless the Federal Communications Commission decides its new rulings for Internet service providers.
The Federal Communications Commission is reviewing the regulation after a federal appeals court reversed guidelines that all kinds of Internet traffic will be treated equally. According to the court, the Internet service providers could use two-tiered system that would allow them to charge more fees to give better treatment to online content.
Companies like AT&T and Comcast reported that they will not play any game with the government. But earlier this week, Obama hinted that he doesn't trust any company and asked the Federal Communications Commission to impose tougher regulations on Internet service providers.
According to experts, if the government will transplant tougher regulations, the US economy will have to suffer a lot.
Roberts said, "We are trying to work with the FCC, with the Congress, with the administration to forge an outcome that everyone can live with and doesn't do harm to the investment cycle and innovation cycle".
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