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Comcast abandons $45bn planned purchase of Time Warner Cable

  • US cable company Comcast has dropped its plan to purchase Time Warner Cable after it failed to convince regulators that the $45 billion deal wouldn’t harm competition.

    Brian L Roberts, the Comcast chairman, said the deal had been structured in a manner that if the “government didn't agree, we could walk away”.

    An antitrust investigation had been launched into the deal. US Attorney General Eric Holder described the abandonment of the deal as a “victory” for both the justice department and “providers of content and streaming services”.

     

    Tagged as: US cable company, Comcast, Time Warner Cable, regulators, Brian L Roberts, antitrust investigation, Eric Holder, business news