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April 24, 2015 01:38 pm

Comcast Officially Gives Up On TWC Merger

An anonymous reader writes: Confirming speculation from yesterday, Comcast announced this morning that its attempt to merge with Time Warner Cable has been terminated. The announcement was very brief, but indicated that regulatory pressure was the reason they killed the deal. CEO Brian Roberts said, "Today, we move on. Of course, we would have liked to bring our great products to new cities, but we structured this deal so that if the government didn't agree, we could walk away." The Washington Post adds, "The move by regulators to throw up roadblocks shows that the government has grown concerned about massive media conglomerates bigfooting rivals that are finding success by streaming content over the Internet, analysts said. And after years of approving a wave of mergers in the industry — including that of Comcast and NBC Universal in 2011 — federal officials are taking a new tone, they said."

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