Reports: Comcast Dropping Time Warner Cable Merger

Comcast will drop its plans to merge with Time Warner Cable, Bloomberg reported Thursday.

This Feb. 11, 2011 file photo shows the Comcast logo on one of the company's vehicles, in Pittsburgh. Comcast reports quarterly earnings on Tuesday, April 22, 2014. (AP Photo/Gene J. Puskar, File)

Comcast hasn't announced a final decision yet, but it could do so as early as Friday, according to multiple reports.

It was only this week that the Federal Communications Commission joined the Justice Department in saying it was leaning toward opposing the $45.2 billion deal, with one source telling Bloomberg the merging of the country's two largest cable TV providers would not benefit consumers. Comcast has maintained that it would.

Comcast executives said they met with FCC and Justice Department officials Wednesday but did not reveal details of the meeting, Mediaite reported.

Some regulators have intensely scrutinized the proposal by saying it would discourage competition in the video and broadband markets, the New York Times also reported.

Representatives for Comcast and Time Warner Cable did not immediately respond to TheBlaze when asked to comment.

This post has been updated.

(H/T: Bloomberg)

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