After 14 months of lobbying federal, state and municipal government officials, running ads and shuffling stacks of paperwork to the FCC, Comcast (NASDAQ: CMCSA) revealed to investors that its entire tab for its failed acquisition of Time Warner Cable (NYSE: TWC) comes to around $336 million.
The tally required a little bit of math (hat tip to DSL Reports' Karl Bode here): Comcast reported that its first-quarter merger expenses came to $99 million. Add that to the $234 million reported for 2014, and you get the final bill. Comcast made its latest disclosure during its Q1 earnings call Monday morning
You can read about Comcast's first quarter financials in this FierceCable story that was filed by Samantha Bookman earlier this morning.
Speaking to investors, Comcast CEO Brian Roberts tried to strike a moving-on tone, noting, "At Comcast, we have great products and technologies, and we were excited about bringing these capabilities to additional cities. The government ultimately didn't see it the same way.
"Of course we're disappointed, but it was a unique, one-off situation," he added. "Really, we've moved on. The announcements we'll make at the (INTX) convention around service, around organic growth, those are the priorities."
Comcast has scheduled a 5 p.m. EST meeting with select press members at INTX Tuesday to discuss how it's going to "transform the customer experience." Roberts will be on hand, as will Neil Smit, president and CEO of Comcast Cable, and Charlie Herrin, Executive Vice President, Customer Experience, Comcast Cable.
For more:
- visit this Comcast investor relations page
- read this DSL Reports story
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