Yet, as stated by the WSJ, both the Justice Department as well as the Federal Communications Commission (FCC) have important concerns about the trade, and they’re contemplating submitting it to an administrative hearing that will probably kill the deal.

In the event the reports are right (note that none of the firms or agencies involved are prepared to remark on “conjecture”), it is an important change from the rose-colored image Comcast has painted since it declared its bid for TWC more than a year past. According to the on-going rhetoric of Comcast, the deal would be overwhelmingly favorable for consumers, and Comcast Executive Vice President David Cohen has said that he anticipates the transaction.

We’ll continue to participate in our beneficial talks with the authorities and don’t see any worth in commenting on rumors and conjecture.”

When the deal is blocked, what happens? Lots of wreck for one thing, however there are lots of other short term consequences too.