Friday, April 24, 2015

Comcast admits defeat, terminates Time Warner Cable merger agreement | Ars Technica

Comcast admits defeat, terminates Time Warner Cable merger agreement | Ars Technica: "Comcast and Time Warner Cable announced the termination of their merger agreement this morning, ending the proposed combination of the nation's two largest cable companies. Comcast had lobbied on behalf of the merger for more than a year but faced opposition from the Department of Justice and Federal Communications Commission. FURTHER READING HOW THE US COULD BLOCK THE COMCAST/TIME WARNER CABLE MERGER Comcast/TWC merger may require extensive consumer protection provisions. “Today, we move on. 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," Comcast CEO Brian Roberts said in the company's statement. "Comcast NBCUniversal is a unique company with strong momentum. Throughout this entire process, our employees have kept their eye on the ball and we have had fantastic operating results. I want to thank them and the employees of Time Warner Cable for their tireless efforts. I couldn’t be more proud of this company and I am truly excited for what’s next.”"

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