SubscribeComcast Corp. is planning to walk away from its proposed takeover of Time Warner Cable Inc., people with knowledge of the matter told Bloomberg News, after regulators decided that the deal wouldn’t help consumers, making approval unlikely.
A formal announcement on the deal’s fate may come as soon as Friday, said one of the people, who asked not to be named discussing private information.
[flv]http://www.phillipdampier.com/video/CNBC Comcast could drop TWC bid as soon as Friday 4-23-15.flv[/flv]
CNBC reports the merger deal is likely to be officially called off as early as Friday. (0:59)
So does Charter now step in as the new suitor ?
We know John Malone and Charter are still very interested, but the last attempt met with a hostile response from TWC management. There will need to be an analysis to see if the federal government is fed up with cable mergers or if it was all about Comcast. TWC could also launch its own buying spree – Charter is much smaller than TWC is. For customers, the question will be if/when TWC will accelerate its TWC Maxx upgrade program. At the rate it is going now, it will be more than five years before they upgrade all of their plant… Read more »
Not happy times for Comcrap. Hopefully this signifies a new trend of activism when it comes to regulators overseeing companies that refuse to play fair in an open marketplace. Now if we could only keep Google execs out of the white house.
While yes Google can cause harm right now they aren’t the problem. The main Problem is these corrupt ISPs that refuse to upgrade the Network and Expand it. Theft use the Modem Fees, Our Tax Dollars (Through Tax Breaks and Government Funding that they oh so Desperately need), Data Caps (Pointless), Throttling(Also pointless), etc to build up the funds to do this . These things also only hurt the consumers and don’t do anything good for them at all. They have so far gotten away with it by writing checks to buy politicians as Money is the only language they… Read more »
While arbitrary usage caps, crappy service and overcharging are bad, the bigger issue to deal with is the crony capitalism and corruption that lets companies like Comcast flourish in the first place. The spectacle of Eric Schmidt sitting in the white house on election night working for Obama’s reelection was very disturbing to me. There needs to be firewall between business and government or this kind of stuff will never stop. At least European regulators are taking on Google. In any case, props to Mr Dampier for his efforts to kill the Comcrap/TWC merger. Much work is left to be… Read more »