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Patrick Leahy

Lawmakers Press Comcast on TWC Merger

Comcast Corp (NASDAQ:CMCSA) and Time Warner Cable Inc (NYSE:TWC) executives sought to reassure lawmakers on Wednesday that their planned merger would not send cable TV prices skyrocketing but found a fair amount of congressional skepticism.The Senate Judiciary Committee held the first public hearing on the proposed $45.2 billion merger between the two largest U.S. cable companies, a deal that has raised eyebrows among public interest groups and some lawmakers. Comcast promises that it will benefit consumers without eliminating any choices."My concern is that as Comcast continues to get bigger, it will have even more power to exercise its leverage and squeeze consumers," said Senator Al Franken, a Minnesota Democrat who has often opposed media concentration."I'm against this deal," Franken added. "I believe this deal will result in fewer choices, higher prices, and even worse service for my constituents."Lawmakers can be a powerful voice on merger deliberations although they will have n...

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