The Traderszone Network

Published in TZ Latest News 24 April, 2015 by The TZ Newswire Staff

Comcast abandons $45 billion Time Warner Cable merger

The Department of Justice said the plan to merge the two biggest U.S. cable companies would have made Comcast an “unavoidable gatekeeper” for broadband services. Federal Communications Commission Chairman Tom Wheeler said on Friday that the merger would have posed an “unacceptable risk to competition and innovation”. “Today, we move on,” Comcast Chief Executive Brian Roberts said in a statement.