Comcast to drop $45.2 billion bid for Time Warner Cable, Thank Jeebus!
Comcast is walking away from its planned $45.2 billion merger with Time Warner Cable.
Bloomberg reports that the decision came after the U.S. Justice Dept. and Federal Communications Commission officially opposed the deal over the last few days.
Comcast’s board will meet to finalize the decision on Thursday, and an announcement may come as soon as Friday, said one of the people, who asked not to be identified because the information is private. Time Warner Cable executives plan to tell shareholders on an earnings conference call next Thursday how the company can survive independently, the person said.