Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: FRIDAY, November 10, 1995 TAG: 9511100068 SECTION: BUSINESS PAGE: B-7 EDITION: METRO SOURCE: Associated Press DATELINE: WASHINGTON LENGTH: Short
Attorneys close to the companies said Thursday that they expect the Federal Trade Commission to seek more information this week from Time Warner, Turner and Tele-Communications Inc.
The FTC is required to investigate the deal to make sure it does not stifle competition. The FTC said it routinely uses subpoenas to gather information and often makes second requests for data.
Given this, officials from Time Warner and TCI said they are not worried by the expected request for information and don't believe it would delay the deal, which was announced Sept. 22.
``On a deal of this magnitude, we expect the FTC to take a close look ... and we'll certainly be cooperating,'' said Bob Thomson, TCI senior vice president. TCI expects the FTC to approve the deal, Thomson said, adding that the company sees no need for restructuring the planned takeover.
``We will comply with any requests for more information,'' said a Time Warner attorney, speaking on condition of anonymity.
A Turner official declined to comment.
It was not clear what form the FTC's request would take: a formal second request for information or a subpoena.
by CNB