Comcast drops $45.2-Billion deal to buy TWC

Comcast has announced that it is likely to drop its $45.2-billion proposal to buy Time Warner Cable (TWC). Comcast is facing opposition from FCC and DoJ officials to go ahead with the deal to buy TWC. Comcast had announced the merger deal fourteen months ago. It unsuccessfully made several attempts to convince FCC and DoJ.

Comcast is also a technology leader in broadband. Comcast has increased the Internet speed 12 times in the past 12 years, whereas TWC located in geographic areas has more than 30,000 hotspots, in Los Angeles and New York City.

Comcast’s board will meet to finalize the decision on Thursday, and the final verdict is expected on Friday. Time Warner Cable executives plan to tell the shareholders at the conference called next Thursday how the company can survive independently.

Comcast has to focus on adding more Internet subscribers to defend its pay-TV business, whereas TWC pursued other possible merger partners like John Malone’s Charter Communications. Online players such as Amazon.com, Netflix and others providing programming over the Internet will benefit from the demise of the $45 billion deal....See more

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