NEW YORK (TheStreet) -- Time Warner Cable (TWC) CEO Rob Marcus is pleased with the pace of regulatory inspection of his company's proposed $45.2 billion merger with Comcast (CMCSA) , Marcus said Monday at the UBS Media and Communications Conference in New York. He expects a ruling from government regulators by early 2015.
But as for President Obama's position on how the Internet should be regulated, Marcus is less than satisfied.
Obama's proposal to regulate the Internet with standards comparable to those used to oversee public utilities "would be a mistake that would cause all sorts of unintended consequences and end up costing customers more for some of those services," Marcus said Monday before investors at the UBS conference.
Marcus took over as CEO at Time Warner Cable in January from longtime chief Glenn Britt.
U.S. consumers need only look at Europe, where "heavy-handed regulation has proven to deter investment and has hampered the delivery of products to customer," Marcus insisted.
On the Federal Communications Commission, Marcus said, "It's best that they would encourage us to invest and not create an environment where we're unsure about investing in higher speeds and the roll-out of additional services."
Marcus noted that he expects the FCC and the Department of Justice to rule on the merger of the country's two largest cable-TV providers sometime after an approval deadline of March 9. Final comments from the public are now due on Dec. 23.
Comcast's acquisition of Time Warner Cable, announced in February, has faced delays in recent months as the two companies have sought federal and state approval for a merger that opponents warn will concentrate too much pricing power and Internet oversight into one company.
Opponents of the merger argue that combining the country's two largest cable providers would leave customers with little competition in cable and high-speed internet markets. The Stop Mega Comcast Coalition, an alliance of groups -- including the Parents Television Council and the Independent Television and Telecommunications Alliance -- is one of many that have emerged to block the merger.
Such advocacy groups have been emboldened by President Obama's support for net neutrality. But Marcus said he doesn't anticipate much additional pushback from federal regulators moving forward, and that the deal was a highlight of the company's year.
"The whole thing is going pretty much as we anticipated," he said. "I don't see any real issues on the horizon."
-- Written by Antonia Massa in New York
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This article is commentary by an independent contributor. At the time of publication, the author held no position in the stocks mentioned.
TheStreet Ratings team rates TIME WARNER CABLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIME WARNER CABLE INC (TWC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: TWC Ratings Report