Reports: Comcast Bids Adieu to TWC

Cable giant to drop merger deal in wake of FCC, DOJ objections
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Comcast is apparently ready to throw in the towel on its $67 billion merger with Time Warner Cable, concluding what has been a grueling 14-month approval process.

Bloomberg News was the first to report Comcast’s decision, adding that an official announcement could come as early as Friday. The New York Times and CNBC also issued reports Thursday confirming that Comcast is stepping away from the deal.

If Comcast decides to abandon the merger, it will mark the end of what has been a whirlwind week for the companies involved – on April 17 reports surfaced that the Department of Justice was leaning away from approving the merger, while Wednesday sources said the Federal Communications Commission was considering putting the matter to a hearing before an administrative law judge, which would send a signal that the agency did not believe the deal would be in the public interest.

For the full story go to Multichannel.com.

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