Comcast Kills Time Warner Cable Merger Deal Worth $45B
According to a statement, Comcast nixed their merger agreement with Time Warner Cable Friday, killing a deal that was reportedly worth $45.2 billion. The deal had run into resistance from the U.S. government.
Time Warner Cable said in a statement that it was a mutual statement between the two digital services providers.
“Today, we move on,” said Comcast CEO Brian Roberts. “Of course, we would have liked to bring our great products to new cities, but we structured this deal so that if the government didn’t agree, we could walk away.”
Charter Communication’s deal is also off the table, as they were about to get 3.9 million Cable TV customers from Comcast. That likely means Charter’s deal to acquire Bright House Networks is also shelved.
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