Newswire: Comcast is alone again, naturally, after Time Warner deal collapses
Comcast has officially abandoned its proposed $45.2 billion acquisition of Time Warner Cable, reportedly warded off by the narrow odds for regulatory approval and not by the fact that a merger between Comcast and Time Warner sounds like the inspiration for a dystopian YA novel.
Deadline reported the news by way of a CNBC interview with Comcast CEO Brian Roberts, who learned that the FCC was poised to reject the merger, deeming it bad for consumers. But Comcast knew the Time Warner tie-up was a long shot, so it structured the deal to allow it to easily withdraw from the deal without penalty, a concept the cable giant is apparently aware of after all.
The Wall Street Journal reported the deal might have gone sour due to the Justice Department’s concern over Comcast’s alleged meddling with a proposed sale of Hulu, the video streaming service co-owned by …