The final chapter in the Comcast–Time Warner Cable merger saga has been written and it states that after a little over a year of maneuvering, the merger will be scrapped. Of course it didn’t go gently into that good night. As we know, Comcast has constantly argued that the merged company would still have a good deal of competition in the broadband arena from the likes of Google Fiber and other established cable companies. The DoJ and the FCC weren’t buying the notion.
The merged company would’ve also taken a chunk of cable. Of course Comcast maintained that there would be suitable competition to deal with. In the case of cable, it would be looking at a combination of Charter, Bright House Networks, or the potential merged company of the two among others.
Comcast also said it would remain under 30 percent of the cable market by giving some of its Time Warner Cable subscribers to Charter. Again that didn’t sit well with the FCC or DoJ. It had gotten to where it was simply best to just scrap the deal all together since the needle wasn’t moving on it.
“Comcast and Time Warner Cable’s decision to end Comcast’s proposed acquisition of ime Warner Cable is in the best interests of consumers,” said FCC chairman Tom Wheeler in a press release. “The proposed transaction would have created a company with the most broadband and the video subscribers in the nation alongside the ownership of significant programming interest.”
Wheeler closed things by pointing out that the merger would’ve killed the room required for industry innovation and that the FCC was satisfied with what was achieved working with the DoJ’s Antitrust Division.