Comcast reportedly dropping plans to merge with 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 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.
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Joseph Keller is the former Editor in Chief of iMore. An Apple user for almost 20 years, he spends his time learning the ins and outs of iOS and macOS, always finding ways of getting the most out of his iPhone, iPad, Apple Watch, and Mac.