Comcast made a valiant effort to purchase Democratic support for its proposed $45 billion merger with Time Warner. Alas, the cable giant failed, but not before the firm dropped millions upon millions of dollars on fees to lawyers, lobbyists, and investment bankers.
(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.
Cable giant Comcast’s takeover of NBCUniversal in 2011 has precipitated “one debacle after another” at the network’s news division, according to a new report from Vanity Fair, which illustrates a company more concerned with “corporate vision” than good television.
Comcast has donated thousands of dollars to charities, think tanks, and state lawmakers that have in turn endorsed the cable and Internet giant’s proposed merger with Time Warner Cable, the New York Times reports.
The Comcast and Time Warner Cable merger is no longer seen as inevitable, as opponents of the deal have successfully framed it as more than just a merger of two cable operators, according to the Los Angeles Times.
Comcast’s transformation from a midsize firm in the early 2000s to a lobbying powerhouse epitomizes how businesses can profit from influence in Washington, but the cable and Internet giant is now facing some resistance from the Obama administration and regulators, the Wall Street Journal reports.
As Comcast pursues an acquisition of competitor Time Warner, some conservatives are adopting corporate pressure tactics pioneered by the left designed to punish the cable giant for what they regard as its support for a liberal policy agenda.
(Reuters) – The U.S. Federal Communications Commission said on Friday it paused its “shot-clock” on the review of the proposed $45 billion merger between the two largest U.S. cable providers, Comcast Corp and Time Warner Cable Inc.
Comcast’s media rivals are beginning to raise concerns that the company’s proposed merger with Time Warner Cable could create an uncompetitive monopoly, the New York Post reports.