Comcast announced the termination of its $45 billion merger deal with Time Warner Cable (TWC) and its agreement with Charter Communications.

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Brian L. Roberts, chairman and CEO of Comcast, said: “Today, we move on. Of course, we would have liked to bring our great products to new cities, but we structured this deal so that if the government didn’t agree, we could walk away.”

“Comcast NBCUniversal is a unique company with strong momentum. Throughout the process, our employees have kept their eye on the ball and we have had fantastic operating results,” Roberts said.

Comcast did not share specific reasons for calling off the $45 billion deal to acquire TWC. Earlier, Bloomberg reported that both FCC and DoJ officials are against the merger between Comcast and TWC. The proposal to merger two leading cable companies in the U.S. telecom market was announced 14 months ago.

Time Warner Cable Chairman and Chief Executive Officer Robert D. Marcus, said: “We are strong and getting stronger. Throughout this process, we’ve been laser focused on executing our operating plan and investing in our plant, products and people to deliver great experiences to our customers.”

Baburajan K
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