Comcast, Time Warner Deal Is Off: Reports

Feds were opposed, though it's not official yet
By John Johnson,  Newser Staff
Posted Apr 23, 2015 3:35 PM CDT
Comcast, Time Warner Deal Is Off: Reports
The Comcast deal with Time Warner is reportedly off.   (AP Photo/Gene J. Puskar, File)

Apparently, Comcast's meeting with the feds didn't go well yesterday. The company plans to scrap its deal to take over Time Warner and create a gargantuan cable company, reports Bloomberg. Neither company is saying anything publicly, but the New York Times and CNBC have confirmed the news with their own sources. An official announcement could come as early as tomorrow. The news follows reports that regulators opposed the deal as anti-competitive, a view that Comcast officials tried to dispel yesterday in meetings with the Justice Department and the FCC. Shares of both companies climbed after the news broke. (Read more Comcast stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.