The $45 Billion dollar Comcast and Time Warner Cable merger is officially dead. Comcast and TWC are the two biggest cable and broadband companies in the United States and there were major concerns about what losing that compeition would do to the industry. This is probably good news for consumers and so far I haven't seen too many tears shed over the failed merger. The Verge has more on this story.
Comcast has officially abandoned its $45 billion merger with Time Warner Cable, after encountering resistance from regulators. "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," said Comcast Chairman and CEO Brian Roberts in a statement. "Comcast NBC Universal is a unique company with strong momentum. Throughout this entire process, our employees have kept their eye on the ball and we have had fantastic operating results. I want to thank them and the employees of Time Warner Cable for their tireless efforts. I couldn't be more proud of this company and I am truly excited for what's next."