Looks like there’s trouble in paradise.
Bloomberg reports that Comcast is going to walk away from its takeover of Time Warner Cable. Comcast has apparently gotten cold feet following the announcement that regulators planned on blocking the deal over anticompetitive concerns. A final decision will reportedly be revealed as soon as Friday.
The FCC has reportedly teamed up with the Justice Department in an effort to terminate the deal, which has received virtually universal opposition from media and the general public; FCC commissioners have expressed their concerns over the merger not being in the best interest of consumers.
If Comcast does decide to continue the merger, an administrative deal will likely be held, which would effectively kill the deal off for good. But it doesn’t even sound like such a deal is even possible at this point, which is why Comcast has allegedly decided to walk away.
Word should hit on Friday. Until then, cower at the thought of Comcast dominating the cable landscape.