ELECTED OFFICIALS | ACADEMICS/PUBLIC POLICY GROUPS | DIVERSITY GROUPS
"I am encouraged by the announcement that Comcast has reached an agreement to buy Time-Warner Cable. This has the potential to create additional jobs in the Commonwealth and further strengthen Pennsylvania's standing as a global-leader in media, technology and innovation."
- U.S. Senator Bob Casey (D-PA) [2/13/14]
"Today's announcement by Comcast regarding their interest in merging with Time Warner Cable is testament to the quality and pro-consumer focus the Comcast brand has delivered. Tens of millions of consumers will benefit from increased choice and service the merger will bring."
- Governor Tom Corbett [2/13/14]
"As part of its commitment to the public following its merger with NBCU, Comcast has provided thousands of households in Atlanta and throughout Georgia with low-cost, high-speed Internet service, affordable computers, and digital literacy training. This program benefits families without access to broadband. I encourage Comcast to maintain its commitment to the success of minorities and society through fast and affordable broadband services as part of the proposed merger.
- U.S. Rep. Henry C. "Hank" Johnson, Jr. (D-GA) [2/20/14]
"I am enthusiastically supporting this acquisition as I believe this is the ultimate triple play – great for consumers, great for the company and great for our city."
- Mayor Michael A. Nutter [2/18/14]
"I am confident that the transaction announced today will expand Comcast's ability to deploy its advanced technology and serve its customers around the country. This is good for the world-class workers in Philadelphia and Comcast customers around the state."
- U.S. Senator Pat Toomey (R-PA) [2/13/14]
"...it is far from clear that competition will automatically be deterred if the acquisition goes through, and the benefits to consumers could be substantial."
- Will Rinehart, Director of Technology and Innovation Policy, American Action Forum [2/19/14]
"The tenor of the Comcast/Time Warner Cable merger and Comcast/Netflix deal coverage has been a stark reminder that the discussions by those who understand these issues are driven by the concerns of those who don't."
- Gus Hurwitz, Center for Internet, Communications, and Technology Policy Fellow, American Enterprise Institute & Assistant Professor, University of Nebraska College of Law [3/14/14]
"Because Comcast and Time Warner Cable do not operate in the same geographic markets today, there will be no reduction in broadband provider competition. But even that question misses the larger point, which is that this is a market where competitive products and technological innovations spring up unexpectedly, often overlap, and show no signs of stopping."
- Bret Swanson, Center for Internet, Communications, and Technology Policy Visiting Fellow, American Enterprise Institute [4/16/14]
"The proposed Comcast-Time Warner deal, however, is a sign of a functioning cooperative market, not a degenerating one. We hope to see it approved – and to see the competition that has given television subscribers more choices than ever before continue."
- Renee Giachino, Corporate Counsel and Sr. Vice President, Center for Individual Freedom [2/28/14]
"The merger does not limit competition because Comcast and Time Warner do not compete against each other. The two companies do not now operate in any of the same ZIP codes. The larger company will have greater resources, which will allow them to compete against other media companies – such as Netflix – in creating new content for their subscribers. Increased competition is always good for the consumer. No consumer has ever been wounded in a price war."
- Ronald D. Rotunda, The Doy & Dee Henley Chair and Distinguished Professor of Jurisprudence, Chapman University [2/13/14]
"Like any transaction of this size, the proposed Comcast - Time Warner Cable merger deserves close scrutiny and I'm sure it will receive it. And the most important fact to keep in mind from the outset in considering this proposed merger is that it is what economists call "horizontal" and Comcast and TWC do not compete with each other in any material way in any market segment with respect to their broadband data, video, and voice telephony offerings."
- Randolph May, President, Free State Foundation [2/13/14]
"This merger would be a great thing for consumers. The one thing it could not possibly do is hurt competition, given that Time Warner and Comcast don't compete for customers in the same markets. On the contrary, this merger will strengthen competition by giving the merged firm more market power, which will make it a stronger competitor versus satellite and web TV delivery services. The merger will also strengthen all TV providers' negotiating stance against program providers, who have been charging ever-higher programming fees, which consumers ultimately get stuck paying for."
- S.T. Karnick, Director of Research, The Heartland Institute [2/13/14]
"This deal is far from the threat indicated by critics. Instead, it is a sign that competition in the marketplace is growing and a signal to all to up their games. Regulators should quickly approve the merger and let the competition proceed."
- James Gattuso, Senior Research Fellow in Regulatory Policy, The Heritage Foundation [2/14/14]
"We should consider the benefits to consumers and the overall economy, as well as the potential drawbacks instead of assuming big cable companies are necessarily bad. With a little analysis, the deal appears a win for consumers and the economy overall."
- Doug Brake, Telecommunications Policy Analyst, Information Technology and Innovation Foundation [2/14/14]
"There are no competitive grounds to oppose the Comcast/TWC merger; again, they don't compete with each other now. And it seems most likely that consumers will benefit rather than being harmed by greater availability of superior products and services."
- Tom Giovanetti, President, Institute for Policy Innovation [3/24/14]
"The evidence is clear that consumers prize the convenience of mobility over blazing fast speed at home. The newly combined ComcastTime Warner Cable may be better positioned to become a competitor in the wireless space, creating new competition and choice for consumers."
- Tom Giovanetti, President, Institute for Policy Innovation [2/13/14]
"TWC customers will become Comcast customers (and get arguably better technology and service in the process), but no local market will see a decline in the number of competitors."
- Larry Downes, Principal, Larry Downes Consulting Group [Harvard Business Review, 2/18/14]
"Comcast acquiring Time Warner is an utterly unremarkable feature of a healthy free market…The government can allow the free market to be free, and allow a willing buyer and a willing seller to willingly transact."
- Seton Motley, President, Less Government & Policy Advisor, Telecom, The Heartland Institute [2/13/14]
"The consumer benefits are abundant, which the business proposal will demonstrate even under regulatory review, so that consumers can start enjoying the benefits as quickly as possible."
- Bartlett D. Cleland, Managing Director, Madery Bridge Associates [2/13/14]
"Not only is the Comcast-Time Warner Cable merger pro-competitive, via the improvement of services and innovation for millions of Americans and many thousands of businesses, this merger also is occurring in the most competitive communications marketplace with the most consumer choices ever. It should be approved."
- Scott Cleland, Chairman, NetCompetition.org [2/13/14]
"...the Comcast/Time Warner merger seems to be rather straightforward: Comcast is going to acquire Time Warner's systems, but as the two companies currently don't compete against each other now in the distribution market, the adverse competitive impact of the deal on the number of competitors in each local franchise is zero. Instead, this transaction will ideally allow Comcast to achieve greater economies of scale and scope, with the savings passed along to consumers."
- Larry Spiwak, President and Co-Founder, Phoenix Center [3/13/14]
"Antitrust authorities should assess the merger on the basis of how it might affect investment, innovation, and productivity as well as competition grounds. In addition, PPI research, based on official government statistics, shows that investment in the tech/info sector is creating job opportunities for blacks and Hispanics."
- Michael Mandel, Chief Economic Strategist, Progressive Policy Institute [2/14/14]
"...the proposed Comcast/TWC merger gives the FCC the ability to condition the merger on them agreeing to net neutrality rules. The FCC can thus guarantee 30% of the country will have the net neutrality that they are not allowed to impose via a rulemaking. This opportunity may be the strongest reason the FCC has for supporting the merger."
- Armand Musey, President and Founder, Summit Ridge Group [2/17/14]
"...the deal between Comcast and Time Warner may very well be an opportunity to expand competition and provide consumers with improved service; and not necessarily by Comcast but one of the many other companies that are offering choices in television entertainment today and the devices and platforms that are available to individuals continues to grow."
- Michi Iljazi, Communications and Policy Manager, Taxpayers Protection Alliance [2/21/14]
"The absence of any reduction in competition should end the inquiry into any potentially anticompetitive effects in consumer markets resulting from the horizontal aspects of the transaction."
- Geoffrey Manne, Senior Fellow, TechFreedom & Director, International Center for Law & Economics [4/14/14]
"If anything, the merger will effectively provide consumers with more bargaining power to rein in overall programming costs and lower their bills. Moreover, an expanded Comcast network should enable it to transmit content to all of its customers more efficiently. Meanwhile, the deal will enhance Comcast's efforts to build the nation's largest wireless mesh network, which could introduce new competition in the wireless market."
- Geoffrey Manne, Senior Fellow, TechFreedom & Director, International Center for Law & Economics [2/13/14]
"There's really no reason this deal shouldn't go through. It doesn't reduce competition between broadband providers. Any theoretical concerns about Comcast's potential leverage over programmers are more than adequately addressed by the conditions of the Comcast/NBCU deal, antitrust law and existing FCC rules."
- Berin Szoka, President, TechFreedom [2/13/14]
"A deal of this size could generate tremendous value for the economy and citizens seeking a pathway towards economic recovery. We, at Rainbow PUSH, look forward to working with Comcast and the FCC as they consider the public interest benefits of this major transaction."
- Rev. Jesse L. Jackson, Sr., Founder and President, Rainbow PUSH Coalition [2/19/14]
"Comcast is an industry-leader in communications and mass media. Upon the completion of the merger, the company will plant its stake in the ground as one of the world's most innovative and highly-regarded companies in the field. The USHCC is pleased to endorse transactions that increase the quality of services for consumers, businesses and shareholders, while preserving the company's commitment to diversity and inclusion."
- Javier Palomarez, President and CEO, United States Hispanic Chamber of Commerce [2/13/14]
Important Information For Investors And Shareholders
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed transaction between Comcast Corporation ("Comcast") and Time Warner Cable Inc. ("Time Warner Cable"), on August 25, 2014, Comcast filed with the Securities and Exchange Commission ("SEC") an amendment to the registration statement on Form S-4 that was originally filed on March 20, 2014, containing a preliminary joint proxy statement of Comcast and Time Warner Cable that also constitutes a preliminary prospectus of Comcast. The registration statement has not yet become effective. After the registration statement is declared effective by the SEC, a definitive joint proxy statement/prospectus will be mailed to shareholders of Comcast and Time Warner Cable. INVESTORS AND SECURITY HOLDERS OF COMCAST AND TIME WARNER CABLE ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of the registration statement and the joint proxy statement/prospectus and other documents filed with the SEC by Comcast or Time Warner Cable through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Comcast are available free of charge on Comcast’s website at http://cmcsa.com or by contacting Comcast’s Investor Relations Department at 866-281-2100. Copies of the documents filed with the SEC by Time Warner Cable will be available free of charge on Time Warner Cable’s website at http://ir.timewarnercable.com or by contacting Time Warner Cable’s Investor Relations Department at 877-446-3689.
In addition, in connection with the proposed transaction between Comcast and Charter Communications, Inc. ("Charter"), Charter will file with the SEC a registration statement on Form S-4 that will include a proxy statement of Charter that also constitutes a prospectus of Charter, and a definitive proxy statement/prospectus will be mailed to shareholders of Charter. INVESTORS AND SECURITY HOLDERS OF COMCAST AND CHARTER ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the registration statement and the proxy statement/prospectus (when available) and other documents filed with the SEC by Comcast or Charter through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Comcast are available free of charge on Comcast’s website at http://cmcsa.com or by contacting Comcast’s Investor Relations Department at 866-281-2100. Copies of the documents filed with the SEC by Charter will be available free of charge on Charter’s website at charter.com, in the "Investor and News Center" near the bottom of the page, or by contacting Charter’s Investor Relations Department at 203-905-7955.
Shareholders of Comcast and Time Warner Cable are not being asked to vote on the proposed transaction between Comcast and Charter, and the proposed transaction between Comcast and Time Warner Cable is not contingent upon the proposed transaction between Comcast and Charter.
Comcast, Time Warner Cable, Charter and their respective directors and certain of their respective executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction between Comcast and Time Warner Cable, and Comcast, Charter and their respective directors and certain of their respective executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction between Comcast and Charter. Information about the directors and executive officers of Time Warner Cable is set forth in its Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the SEC on February 18, 2014, its proxy statement for its 2014 annual meeting of stockholders, which was filed with the SEC on April 29, 2014, and its Current Report on Form 8-K, which was filed with the SEC on June 13, 2014. Information about the directors and executive officers of Comcast is set forth in its Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the SEC on February 12, 2014, its proxy statement for its 2014 annual meeting of stockholders, which was filed with the SEC on April 11, 2014, and its Current Report on Form 8-K, which was filed with the SEC on July 1, 2014. Information about the directors and executive officers of Charter is set forth in its Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the SEC on February 21, 2014, its proxy statement for its 2014 annual meeting of stockholders, which was filed with the SEC on March 27, 2014, and its Current Report on Form 8-K, which was filed with the SEC on May 9, 2014. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, are contained in the preliminary joint proxy statement/prospectus of Comcast and Time Warner Cable filed with the SEC and will be contained in the definitive joint proxy statement/prospectus of Comcast and Time Warner Cable and other relevant materials to be filed with the SEC when they become available, and will also be contained in the preliminary proxy statement/prospectus of Charter when it becomes available.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this communication regarding the proposed acquisition of Time Warner Cable by Comcast and the proposed transaction between Comcast and Charter, including any statements regarding the expected timetable for completing the transactions, benefits and synergies of the transactions, future opportunities for the respective companies and products, and any other statements regarding Comcast’s, Time Warner Cable’s and Charter’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are "forward-looking" statements made within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are often, but not always, made through the use of words or phrases such as "may", "believe," "anticipate," "could", "should," "intend," "plan," "will," "expect(s)," "estimate(s)," "project(s)," "forecast(s)", "positioned," "strategy," "outlook" and similar expressions. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the timing to consummate the proposed transactions; the risk that a condition to closing either of the proposed transactions may not be satisfied; the risk that a regulatory approval that may be required for either of the proposed transactions is not obtained or is obtained subject to conditions that are not anticipated; the parties’ ability to achieve the synergies and value creation contemplated by the proposed transactions; the parties’ ability to promptly, efficiently and effectively integrate acquired operations into their own operations; and the diversion of management time on transaction-related issues. Additional information concerning these and other factors can be found in Comcast’s, Time Warner Cable’s and Charter’s respective filings with the SEC, including Comcast’s, Time Warner Cable’s and Charter’s most recent Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Comcast, Time Warner Cable and Charter assume no obligation to update any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.