Comcast Corp. is on track to close its proposed merger with Time Warner Cable by "early 2015," the company's senior vice president of investor relations told investors Wednesday, reiterating the Philadelphia company's most recent guidance concerning the progress of the closely watched deal.
"At one point, we had said late 2014. It has obviously moved back a little bit,' said Jason Armstrong, the investor-relations executive. He explained that Comcast's efforts to spin-off some of its systems in an effort to appease regulators and gain approval for the mega-purchase, which has been valued at $45 billion, was a partial cause of the timeline. Comcast announced earlier this year that the merger would likely not take place until 2015.
Armstrong made his comments during an investor conference organized by Goldman Sachs.
© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC
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