$45 Billion Deal Gone, Time Warner Refocuses
The $45.2B merger between Comcast and Time Warner has been abandoned, the companies announced today. In the face of anticipated industry consolidation, Time Warner could yet become a buyer or seller, revealed CEO Rob Marcus to the Wall Street Journal. Charter Communications attempted a takeover of Time Warner previously, the publication says, and could try again.
During the 2015 ABA Antitrust Spring Meeting, top US antitrust officials such as DOJ antitrust chief Bill Baer and FTC chairwoman Edith Ramirez didn't comment on the Comcast-Time Warner merger, though both expressed some skepticism toward other recent big-ticket merger attempts. (Bill even said, "There are some ideas that should never get out of corporate headquarters.") This week the merger was recommended for an FCC hearing, and that type of regulatory pressure contributed to the decision to abandon the merger, reports the WSJ. [WSJ]