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Report: Comcast, Time Warner Cable to meet with DOJ


Comcast and Time Warner Cable are expected to meet this week with Justice Department officials in an attempt to gain approval for their planned merger, sources familiar with the situation told The Wall Street Journal.

The meeting, expected to happen Wednesday, is the first that the companies have had with the department. Comcast and TWC announced the $45.2 billion merger in February 2014.

But to accomplish the deal, the two companies will have to convince the Justice Department and the Federal Communications Commission that the combined company won't hold too much sway in the marketplace, the Journal reported late Saturday.

On Friday, Time Warner Cable refuted a report from Bloomberg that Justice Department staff attorneys were expected to recommend that the merger be blocked. The department could file a suit to prevent the deal if it thinks the merger violates antitrust laws by being anti-competitive.

The combined company would control about 40% of the U.S. market for broadband Internet. The market share could be higher under the new definition of broadband issued by the FCC.

Comcast issued a statement on Friday that the merger would yield "significant consumer benefits" without "any reduction of competition."

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