Regulators charged with examining the deal specifically want to know how a combination of the two companies would affect Internet service nationwide
"The new company would bring together 19.4 million broadband subscribers, creating the second-largest broadband Internet provider in the country and would provide services to customers across portions of nearly 40 states," the FCC said. The merger has been valued at $55.1 billion.
The FCC has requested information from several telecommunications and technology companies, including AT&T(T) - Get Report , Verizon Communications(VZ) - Get Report , Comcast (CMCSA) - Get Report , Netflix(NFLX) - Get Report and Cogent Communications (CCOI) - Get Report , Bloomberg Newsreported.
"Questions from the agency included whether AT&T and Verizon plan to offer faster Internet service and how those companies and Comcast use data caps," the news service said. "The letters also asked Cogent and Netflix to offer comment on Charter's pledge not to charge for accepting traffic onto its network.
"Charter has said it wouldn't block or degrade Web traffic, or favor its own online content ahead of other content or create Internet fast lanes for a fee -- adhering to the concept known as net neutrality," Bloomberg said.
Shares of Charter closed Tuesday at $186.88, up less than 1%. Time Warner Cable closed at $187.88, also up by less than 1%.
Netflix finished at $109.73, down by 3.3%. Comcast declined by less than 1%, finishing at $60.16. Cogent gained less than 1%, closing at $29.29.
Shares of Sprint(S) - Get Report , the nation's fourth-largest wireless carrier, fell by 2.4% on Tuesday, closing at $4.39. The company's stock is essentially flat for the year. Sprint closed at $4.15 on Dec. 31, 2014.
Sprint's top executives recently acknowledged the company's "bloated" costs and said the company is planning to trim about 10% of its operating costs to save more than $2 billion. In addition, Sprint has cut an unspecified number of jobs and frozen all hiring.
In a recent interview with Re/code, Sprint CEO Marcelo Claure talked about the improvements his company is making and pledged that Sprint will have the "No. 1 or No. 2 network by 2017."
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.