Comcast Reportedly Abandons Deal to Merge with Time Warner Cable
Rumors indicate that the planned merger has been dropped.
According to a report from Bloomberg, Comcast now plans to terminate its proposed deal to acquire Time Warner Cable. The two companies first announced the intended $45 billion merger back in February of 2014.
The termination of the deal is likely a result of concerns related to regulatory approval. Critics of the merger believed that the acquisition would be of little benefit to consumers, since the resulting single company would mitigate competition in the marketplace and potentially have an adverse effect on services. To this end, the FCC recently proposed placing the deal in front of an administrative law judge. It appears that with government approval looking doubtful at best, Comcast has simply decided to avoid a losing battle by ending the deal themselves.
Comcast and Time Warner have yet to confirm the termination of their merger, but an official announcement is expected as soon as Friday.
