Friday, April 24, 2015

Comcast Calls Off Time Warner Cable Merger

Comcast has scrapped plans to merge with Time Warner Cable in a $45.2 billion deal that would have combined the country’s two largest cable and broadband providers, the companies said Friday.

The move comes two days after the Federal Communications Commission said it planned to oppose the deal, joining lawyers from the Justice Department who felt it would not help consumers. The FCC said it would issue a “hearing designation order” that would prolong the deal, making it more difficult and expensive for Comcast. On Friday, FCC Chairman Tom Wheeler said the merger posed "unacceptable risk to competition and innovation."

For more information, read Alexander C. Kaufman & Jenny Che's article in Huffington Post by clicking here, or the Bloomberg article by Alex Sherman, Gerry Smith and Todd Shields by clicking here.

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