Complex sentence: Time Warner Cable and Comcast aimed to merge into one company by the end of 2014 and both have praised the deal, emphasizing the increased capabilities of a combined telecommunications network, and to "create operating efficiencies and economies of scale".
Split into simpler sentences: Time Warner Cable and Comcast aim to merge into one company by the end of 2014. Comcast and Time Warner Cable have praised the deal, emphasizing the increased capabilities of a combined telecommunications network, and to "create operating efficiencies and economies of scale".