FORTUNE: The nation’s largest cable company could drop the massive takeover bid following reports indicating the FCC’s opposition to the merger.
Comcast CMCSA 0.75% plans to drop its $45 billion takeover bid for Time Warner Cable TWC -0.59% in the face of opposition from U.S. regulators, Bloomberg reported on Thursday, citing people with knowledge of the matter…
The news follows a report in The Wall Street Journal, which said early Thursday that staff at the Federal Communications Commission have recommended that the merger, which requires government approval, be put before an administrative law judge — an indication that the FCC views the potential deal as not being in the public’s best interest… (more)
EDITOR: Hurray!
