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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."
I know you're making a joke, but I just thought I should add--I've lived in Comcast, Cox, and Timewarner cable areas. I'm commenting solely on Internet service, but Timewarner has far and away been the best. They're rolling out their ridiculously named "Maxx" service in my area in the next month or two. 25/5 will be upgraded 100/10 or 200/20 (I'm not entirely clear which it is). It's no Google fiber, but it will do until Google rolls out next year... I'm overjoyed the merger is not going through.
Unless Comcast acquired NBC/Universal's property, but not the company itself (like a bankruptcy asset purchase) then I don't see them getting out of the NBC obligations. When a company purchases another company outright it keeps those obligations. One of the big banks that absorbed one of the big mortgage lenders still had to deal with billions of dollars in fines from that mortgage lender if I'm remembering correctly, and if the bankers couldn't get out of it, a few media moguls sure as hell aren't going to.
Do not look into laser with remaining eye.