Comcast officially gives up on Time Warner Cable merger

The rather unpopular, $45 billion merger attempt between Comcast and Time Warner Cable has been officially called off. In a very brief statement, Comcast CEO Brian L. Roberts said that he would have liked to pair the two companies together, but governmental pressure has killed the deal. The biggest objection to the deal was that the combination would control the majority of high-speed internet connections in the US, raising the ire of both the FCC and Justice Department. Unlike the failed AT&T - T-Mobile deal a few years back, it doesn't appear as if either party has to pay a severance fee to the other, which should make walking away a little easier.

Update: In a statement, Attorney General Eric Holder said the decision is a victory for "providers of content and streaming services who work to bring innovative products to consumers across America and around the world." Check after the break for other statements from around the industry, including Time Warner Cable and some of the consumer groups that opposed the deal.

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Engadget