Comcast officially gives up on Time Warner Cable merger

The rather unpopular, $45 billion merger attempt between Comcast and Time Warner Cable has been officially called off. In a very brief statement, Comcast CEO Brian L. Roberts said that he would have liked to pair the two companies together, but governmental pressure has killed the deal. The biggest objection to the deal was that the pair would be so close to a monopoly that it would have no reason to compete, raising the ire of both the FCC and Justice Department. Unlike the failed AT&T – T-Mobile deal a few years back, it doesn’t appear as if either party has to pay a severance fee to the other, which should make walking away a little easier.

[Image credit: Spencer Platt/Getty Images]

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Source: Comcast

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