This broke at Bloomberg and is now being confirmed: In the face of opposition from the Justice Department and the FCC, Comcast is giving up on its proposed $45.2 billion merger with Time Warner Cable.
This is a great victory for everyone who fought against Comcast’s bid to tighten its stranglehold on the telecommunications infrastructure on which all of us are so dependent. Kudos to Free Press and other public interest groups that worked so hard on this issue.
One thing you can be sure of is that this and similar issues will be back, especially since the next administration is either likely (i.e., Hillary Clinton becomes president) or certain (a Republican is elected) to be more sympathetic to such deals than the Obama White House has been. Continued vigilance will be needed.
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