Only in the United States of America could there be any possibility, on contemplation, to let two huge companies combine their horrendous, price-gouging service. But, alas for them, it ain’t happening.
Comcast is planning to abandon its $45 billion takeover of Time Warner Cable fter the deal encountered intense regulatory scrutiny over whether it was anticompetitive and in the public interest, people briefed on the matter said on Thursday.
The merger would have united the country’s two largest cable operators and reshaped video and broadband markets. Some lawmakers, public advocacy groups and media and technology companies had rallied against the merger, saying it would invest too much power and market share in one company. The combined company would have controlled just under 30 percent of the pay television subscribers and 35 to 50 percent of the nation’s broadband Internet service, depending on how regulators define the market.
This is something to celebrate. But, wait a minute: the terrible service and outrageous prices (thanks to legalized monopolies being given the big bear hug) will continue.
