NEW YORK (TheStreet) -- Shares of Time Warner Cable (TWC) were rallying, up 2.71% to $170 in pre-market trading Friday, after Federal Communications Commission chairman Tom Wheeler said the agency is not opposed to any and all future cable deals, The Wall Street Journal reports.
Wheeler added that any merger deal would be assessed on its own merits, The Journal noted.
Last year, Charter bid about $132.50 per share, or $37.3 billion, for Time Warner Cable. However, Comcast (CMCSA) swooped in and beat their bid with an all-stock deal worth $158.82 per share, according to Reuters.
Then in April, Comcast gave up on its $45 billion takeover deal of Time Warner Cable after the FCC determined that it would be an anti-competitive deal.
U.S. regulators were concerned that the deal would have given Comcast an unfair advantage in the cable TV and Internet-based services market, Reuters added.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio said he believes the FCC and the Department of Justice got this one wrong, and that they should not have scrapped the deal.
If the acquisition deal is successful, both shares of Time Warner Cable and Charter will likely rise.
New York City-based Time Warner Cable is a provider of video, high-speed data and voice services with clustered cable systems.