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Comcast to exit merger deal with Time Warner

2015-04-24 09:00:00| Telecompaper Headlines

(Telecompaper) Comcast wants to pull out of its proposed takeover of Time Warner Cable as more administrative hurdles get set up and officials showing a marked lack of enthusiasm, the Wall Street Journal reprted, citing sources with knowledge of the matter. The deal awaited federal approval for more than a year, with opposition from the US Justice Department and Federal Communications Commission (FCC) sharpening over the past week. Comcast's board took a vote on the matter on 23 April and plan to come out with an announcement very soon. Time Warner Cable executives are expected to explain how the company will be able to survive independently during the release of their results on 30 April, the sources said.

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