Comcast to 'move on' after killing Time Warner Cable deal

Facing intense regulatory pressure, Comcast (NASDAQ: CMCSA) has killed its proposed acquisition of No. 2 MSO Time Warner Cable (NYSE: TWC) and will "move on," Chairman-CEO Brian Roberts said in a statement. "Of course we would have liked to bring our great products to new cities, but we structured this deal so if the government didn't agree we could walk away."

Comcast had proposed spending $45.2 billion to create a behemoth MSO. Read FierceCable Editor Dan Frankel's full coverage here.

Suggested Articles

LF Edge, an umbrella organization that's part of the Linux Foundation, announced the second release of its Akraino Edge Stack.

Chris Young is leaving his role as CEO of cybersecurity firm McAfee to become a senior advisor with TPG Capital, which has a majority stake in McAfee.

CenturyLink wins a $1.6 billion contract with the U.S. Department of Interior to upgrade its network services and modernize its IT solutions.