A deal that would give Comcast a controlling stake in the nation’s second-largest cable company would likely be the final nail in Time Warner’s coffin.
The cable company’s proposal for a merger with Time Warner is among the most controversial of the past few years.
Critics say the deal would give the cable company a stranglehold on the broadband Internet market, and would lead to massive price hikes for consumers.
Comcast has been pushing for a deal since the beginning of the year.
The company has repeatedly said that the merger would create a massive consolidation of the cable and broadband markets.
But critics argue that a merger between the two companies would be a giveaway to Time Warner, which could make it easier for it to buy Time Warner or take it private.
The proposal for Comcast-Time Warner is part of a broader consolidation strategy for the cable giant.
In February, Comcast said it was closing a deal with Time Inc. to buy a majority stake in a combined Time Warner unit that includes NBCUniversal, Comcast, CBS Corp., Disney and Warner Bros. The deal would see Comcast become a majority owner of both the cable service provider and the entertainment conglomerate, while also acquiring a minority stake in Time Inc., which owns the popular movie streaming service Netflix.
At the time, Comcast CEO Brian Roberts told analysts that the deal is expected to close in the second half of 2018.
The merger would also include Time Warner shares in a package that would value the two firms at about $85 billion.
But in recent months, Comcast and Time Warner have become increasingly critical of the proposed deal.
They said in a statement to investors in March that the proposed merger would lead the cable industry to “deteriorate further.”
The cable industry has been lobbying hard against the merger, arguing that it would be an unprecedented move that would hurt its bottom line and hurt its ability to compete with the Internet giants.
Comcast and Verizon have also been lobbying Congress to block the merger.