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

Comcast stepped up to the plate in its hometown of Philadelphia by contributing $7 million to help provide free internet to low-income families.

Oracle announced its Oracle Cloud VMware Solution is now available across all of its public cloud regions, and in its Dedicated Region [email protected]

Cogent Communications could be adversely impacted by falling demand for commercial office space, which would mean less demand for corporate VPNs.