Comcast NBC Deal Review Quickens

Federal regulators have stepped up their reviews of Comcast's deal to acquire control of NBC Universal in hopes of concluding them by the end of the year.

Few observers expect either the Justice Department or the Federal Communications Commission to block outright the roughly $13.75 billion deal to purchase 51% of NBC Universal from General Electric Co. One reason: Because the two companies aren't direct competitors, it's harder to mount an antitrust challenge. Both agencies, however, are likely to impose significant conditions to prevent Comcast from withholding, or threatening to withhold, NBC Universal's programming from competitors, including companies that distribute TV shows and movies over the Internet, such as Apple and Netflix.

The FCC is looking at all parts of Comcast and NBC Universal's combined online-video distribution chain for ways Comcast could promote content over its rivals. The agency is considering imposing a network neutrality condition on Comcast's Internet network, banning it from deliberately slowing or blocking legal traffic. FCC staff members are meeting twice a week with FCC Chairman Julius Genachowski about the deal and have set an internal deadline of circulating proposed conditions by mid-December. Earlier, the FCC review appeared to be on a January or early February timetable.

Meanwhile, the Justice Department could announce its decision within weeks -- if Comcast accepts its proposed conditions. In particular, Justice Department antitrust officials want to ensure that distribution companies can't lock up content and stymie the development of the online-video market.