Charter deal to test FCC's merger appetite

The Charter-Time Warner Cable transaction gives Federal Communications Commission Chairman Tom Wheeler, a former cable lobbyist-turned-regulator, a fresh chance to put his imprimatur on the rapidly evolving industry — and combat the impression that he’s become hostile to all industry consolidation.

Chairman Wheeler publicly cheered the end the Comcast-Time Warner Cable deal— hailing it as in the “best interests of consumers” — but his agency might look differently at Charter’s play. The combined Charter-Time Warner Cable will be substantially smaller than Comcast is now. It won’t have the same broadband market power as a merged Comcast-Time Warner Cable and it doesn’t have the extensive programming interests that Comcast does with NBCUniversal. Regulators feared that a bigger Comcast could have used its position to muscle emerging online video providers or favor its own programming.