Comcast Abandons $45 Billion Time Warner Cable Merger

Wikimedia Commons

BY:

(Reuters) – Comcast Corp abandoned its proposed $45 billion merger with Time Warner Cable Inc on Friday, saying the deal had been structured in a way that if the U.S. government didn't agree, the companies could walk away.

The deal had faced vocal criticism from some politicians, media company executives and diverse consumer and industry groups, who worried it would create a monolith with too much control over what Americans do online and watch on TV.

(Reporting by Supantha Mukherjee and Devika Krishna Kumar in Bengaluru; Editing by Savio D'Souza)

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