In an on-air report this afternoon, Thursday, April 23, 2015, the business news network CNBC reported, “The expectation is, in fact, that Comcast…our parent company, will drop its pursuit of Time Warner Cable, having faced too much opposition from regulators, particularly in the form of the FCC.”
The report said the Federal Communications Commission had made it clear that it wanted the question of a Comcast/Time Warner Cable merger to go before a hearing examiner, a process that could take up to a year.
You can find a video of the CNBC report if you click here and then scroll down the page. It’s the middle video, titled, “Comcast could scrape TWC deal.”
One of the major concerns of the FCC, the report said, was that a combined Comcast/Time Warner Cable would have 57% of all households that have broadband connectivity.
The report said there would be no breakup fees if Comcast drops its pursuit of Time Warner Cable.
The CNBC report said that its parent company, Comcast, had no comment on its report.
Comcast first announced its potential $45 billion acquisition of Time Warner Cable 14 months ago.