Pennsylvania senators wants fast merger for Comcast, their contributor
Senators Bob Casey (D) and Pat Toomey (R) said there were many potential benefits from the proposed tie-up that is opposed by some consumer groups and rival companies. They noted that Pennsylvania-based Comcast Corp has pledged to speed up Internet speeds for Time Warner Cable customers.
Their letter to Federal Communications Commission Chairman Tom Wheeler also cited the potential for additional jobs and charitable contributions in their state by the larger company.
In February, No.1 U.S. cable company Comcast said it planned to buy No.2 Time Warner Cable for $45 billion.
"We urge you to approve the merger as soon as possible," the Senators wrote to the FCC, which must determine whether the deal is in the public interest. It is reviewing the mergers alongside the Justice Department, whose approval is also needed after it conducts an antitrust review.
Comcast is Casey's biggest contributor, giving him and his political action committees $114,175 for the 2009-2014 election cycle, according to data from the Center for Responsive Politics. It is also the 7th largest contributor to Toomey in the 2009-2014 cycle, giving him, his campaign committee and political action committee $70,6000. ■