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  • Comcast Calls it Quits on Merger with Time Warner

    On the heels of reports that regulators would not allow the proposed Comcast takeover of Time Warner Cable, news emerged Thursday that Comcast will withdraw its bid for what would have been a mammoth 45.2 billion takeover.

    "The deal’s demise promises to strengthen the hand of online players like Amazon.com Inc., Netflix Inc. and others providing programming over the Internet," Bloomberg reports. "Philadelphia-based Comcast, the largest U.S. cable provider, faced scrutiny in Washington over whether it complied with agreements made in its 2011 acquisition of NBCUniversal."

    For now, representatives for Comcast are keeping quiet, but we're told a formal announcement could be made by the cable television giant as soon as tomorrow -- an announcement that will please many critics of the proposed merger in the works for more than a year now.

    Michael Copps, a former FCC commissioner, tells Bloomberg that “Comcast’s withdrawal of its proposed merger with Time Warner Cable would be spectacularly good news for consumers.”

    Source: Bloomberg
    This article was originally published in forum thread: Comcast Calls it Quits on Merger with Time Warner started by Michael Essany View original post
    Comments 2 Comments
    1. iBwizzle's Avatar
      iBwizzle -
      Best news I heard all month.
    1. punchyouinthenuts's Avatar
      punchyouinthenuts -