Comcast CEO: Time Warner Deal Going 'Full Steam Ahead'

Markets Reuters

Comcast Corp's merger with Time Warner Cable Inc is going "full steam ahead" despite uncertainty around new rules governing net neutrality, Comcast Chief Executive Officer Brian Roberts told reporters on Wednesday.

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The deal, which would create the largest U.S. cable Internet provider, is in its final phases and remains on track to close, he said at a Comcast press event in San Francisco.

Shares in both companies fell sharply on Monday, after President Barack Obama declared that Internet service providers should be regulated like public utilities, touching off protests from cable and telecoms companies. Some analysts thought his comments cast uncertainty over how regulators intended to implement the principle of net neutrality, and in turn cast doubt on the merger deal.

(Reporting by Christina Farr; Editing by Chris Reese)