Comcast to drop $45 billion Time Warner Cable bid — report (TWX, CMCSA) – Silicon Alley

Comcast is going to drop its $45.2 billion bid to buy Time Warner Cable, Bloomberg's Alex Sherman reports. Comcast is bowing out of bidding amid expectations that regulators were going to kill the deal anyway. Bloomberg says Comcast's announcement will come as soon as Friday. The transaction was first announced in February of 2014. Opposition to this deal has always been based on the idea that Comcast and Time Warner Cable already provide customers poor service and that they would have less incentive to improve that service after they combined. There would be one less competitor in the market. Here's a list of the banks and law firms that were unable to see this deal to its conclusion: J.P. Morgan, Paul J. Taubman, and Barclays  acted as financial advisors to Comcast Davis Polk & Wardwell and Willkie Farr & Gallagher were Comcast's legal advisors. Morgan Stanley, Allen & Company, Citigroup and Centerview Partners were financial advisors to Time Warner Cable and its Boa...

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