Comcast-Time Warner Cable: The Deal Is Dead
WASHINGTON -- Comcast abandoned its proposed merger with Time Warner Cable on Friday morning. The move followed media reports of considerable skepticism about the benefits of the merger by staff at the Department of Justice and the Federal Communications Commission, the two agencies charged with reviewing the deal.
Free Press President and CEO Craig Aaron made the following statement:
"This proposed merger was bad news from the beginning. Giving one company control over so much of America's communications is neither pro-consumer nor pro-competition. Everybody knows that. Comcast finally got the message that people can't be fooled into thinking that this merger would benefit cable customers and Internet users in any way.
"Comcast's failed bid to control Time Warner Cable should be a lesson for the industry. Communications giants should stop trying to create local monopolies and instead focus on competing to provide the fast, affordable and neutral Internet services that so many Americans demand.
"That's what people say that they want and need. And we're especially grateful to the more than a million Americans who urged regulators in Washington to reject this deal. Credit also goes to those at the Department of Justice and the Federal Communications Commission who have listened to the public and are seriously working to increase competition and lower the costs of access.
"The demise of this merger, alongside the Net Neutrality victory from earlier this year, mark the rise of Internet users as a powerful political constituency that can no longer be ignored by elected officials and policymakers."
