NEW YORK (CBSNewYork) — It looks like the mega-merger between the nation’s two largest cable operators will not be happening.
Multiple reports Thursday said Comcast is set to abandon its $45 billion takeover of Time Warner Cable. The deal had faced heavy scrutiny and antitrust questions.
A merger would give Comcast 30 percent of the entire U.S. cable market, and 55 percent of broadband users.
Some U.S. Senators had urged the FCC and the Justice Department to block the deal.