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Comcast defends merger as U.S. review kicks off

Comcast Corp sought to rebut critics of its planned $45.2 billion takeover of Time Warner Cable Inc, arguing that newcomers like Google Inc and Apple Inc would ensure competition in both Internet and video markets.In a 175-page filing with the Federal Communications Commission that coincides with the formal launch of the controversial deal, Comcast argued that either all or key areas of its and Time Warner Cable's businesses compete with an "array of sophisticated companies with national or even global footprints."The U.S. Department of Justice will conduct the antitrust review and the FCC will examine whether the deal is in the public interest.Comcast has pledged to divest some cable subscribers so the combined company would serve just under 30 percent of the U.S. pay television video market. The company said it would serve between 20 and 40 percent of the U.S. broadband subscribers. MoffettNathanson research estimates the company would cover about 33 percent of the high-speed Interne...

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