Comcast is reportedly dropping its bid to merge with rival Time Warner Cable.
Comcast is said to be preparing to abandon its planned merger with rival Time Warner Cable. The deal was originally announced in early 2014, and valued at $45.2 billion in stock. Comcast will reportedly make its final decision today, with an announcement coming as soon as Friday, April 24.
Following meetings with federal regulators, Comcast has reportedly been under the impression that the deal was in trouble, according to Bloomberg:
Comcast representatives came away feeling from the FCC meeting with the impression the deal was in trouble, according to a person familiar with the matter.
Comcast and Time Warner are currently the top wired broadband and cable providers in the U.S., and a merger would have potentially seen their combined customer base hit 30 million.
Both Time Warner Cable and Comcast have refused to comment.