FCC stops the review clock as it awaits more info from Comcast and NBCU

The FCC, after denying multiple requests from outsiders for more time to comment on Comcast's proposed acquisition of NBC Universal has, itself, stopped the clock while it waits for the companies to provide more details on their operations.

The value of the transaction seemingly moves every day but it's generally considered to be around $30 billion. To get approval to move ahead the two companies must bare their souls to federal agencies and apparently they didn't strip down enough when they responded to an FCC May 21 request for information.

According to Comcast spokeswoman Sena Fitzmaurice, the problems were "technical" (and isn't that a great word to use when talking about a cable company?) and the information will be resubmitted.

In other news about the two companies, NBCU has given up on plans to sell 6.45 million common shares it holds in ShopNBC, the TV network of multimedia retailer ValueVision Media because "prevailing prices" don't make it worthwhile. Those prices show that shares of ShopNBC are down about 61 percent since the start of the year. The company's probably right; it's not a wise time to sell.

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Related articles:
Comcast-NBCU comments open to FCC, closed to general public
FCC's inquiring minds set upon NBCU, Comcast as acquisition heats up

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