Comcast is going to abandon its attempt to buy Time Warner Cable, with an announcement to be made as soon as tomorrow, Bloomberg reported today, citing anonymous sources.
When asked if the report is accurate, a Comcast spokesperson told Ars, "We have no comment.""Comcast Corp. is planning to walk away from its proposed takeover of Time Warner Cable Inc., people with knowledge of the matter said, after regulators decided that the deal wouldn’t help consumers, making approval unlikely," Bloomberg wrote.
The decision would not be a surprise, given that the merger reportedly faces opposition at both the Department of Justice and Federal Communications Commission.
Shortly after the Bloomberg report, The New York Times also reported that Comcast plans to give up on the merger, citing "people briefed on the matter."
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