OBT Magazine

NEW YORK (Reuters) – The Federal Communications Commission (FCC) called on Thursday for public comment on the proposed merger between cable operator Comcast Corp and broadcaster NBC Universal.

The media industry regulator is seeking comments and petitions by a deadline of May 3 and expects to respond to comments by June 2. It has set a final date of June 17 to respond to any further responses or oppositions.

The FCC process is just one part of a comprehensive regulatory process for the $30 billion joint venture between the No 1 U.S. cable operator and NBC Universal, which as well as a national TV network also owns cable networks, including USA Network, CNBC and MSNBC.

The transaction, which has caused an uproar with consumer groups and smaller cable providers, is also being examined by the Justice Department's antitrust division.

Comcast Chief Executive Brian Roberts has been up to Capitol Hill four times to testify before regulators and members of Congress, including a subcommittee of the Energy and Commerce Committee.

Roberts has promised to keep broadcast television free and offer more children's programing if the transaction is approved.

Under the terms of the deal, Comcast would get 51 percent of a new joint venture that includes NBC Universal and Comcast's own cable networks, valued at $7.25 billion. NBC's current owner, General Electric Co, would own the remaining 49 percent. As payment for its stake, Comcast will contribute $6.5 billion in cash and its cable networks.

(Reporting by Yinka Adegoke; editing by Andre Grenon)