Time Warner and Comcast: Each Has a Confirmed, Undisclosed SEC Investigation


Though lawmakers expressed concern about Comcast's proposed acquisition of Time Warner Cable, many suggest regulators still are expected to approve the merger.  But no one’s talking about what impact undisclosed and recently on-going SEC investigations could have on either the approval of this deal or the post-merger success. 

The Current State of SEC Investigative Activity for These Companies:

  • Both Time Warner, Inc. (TWX) and Comcast (CMCSA) have undisclosed SEC investigations recently confirmed as on-going. 
  • As of Aug-2013, Time Warner Cable (TWC) did not.  This is our freshest data point here.
  • Both the Comcast and Time Warner, Inc. SEC investigations were confirmed as active and on-going as of 19-May-2014. (Originally published 09-Jun-2014)
  • We have no reason to believe these investigations are related to the pending deal.

Our Research History on These Companies:

  • Our data on Comcast shows signs of on-again, off-again SEC investigative activity going back to Dec-2012 (that is, more than one SEC investigation). 
  • All four of the FOIA requests we made on Time Warner, Inc. dating back to Nov-2012 were blocked by SEC investigative activity. 
  • In the two times we researched Time Warner Cable (TWC), both times the SEC reported no signs of investigative activity in responses provided to us at the time (Aug-2012 and Aug-2013). 

Note  New SEC investigative activity could theoretically begin or end after the date covered by this latest information which would not be reflected here.

To learn more on our process and what our findings mean, click here.