It’s official: Comcast is ending its bid to merge with Time Warner Cable, ending a year of effort and expense. The company sent out this press release this morning:
Comcast Corporation announced this morning that its merger agreement with Time Warner Cable and its transactions agreement with Charter Communications, Inc. have been terminated. The following is a statement from Comcast Chairman and CEO Brian L. Roberts:
“Today, we move on. Of course, we would have liked to bring our great products to new cities, but we structured this deal so that if the government didn’t agree, we could walk away.
Comcast NBCUniversal is a unique company with strong momentum. Throughout this entire process, our employees have kept their eye on the ball and we have had fantastic operating results. I want to thank them and the employees of Time Warner Cable for their tireless efforts.
I couldn’t be more proud of this company and I am truly excited for what’s next.”
Reaction to the merger’s demise is pouring in. Here’s our roundup of the best coverage.