Comcast to drop $45 billion Time Warner Cable bid - report

Brian Roberts Sun Valley

Getty / Scott Olson

Comcast CEO Brian Roberts

Comcast is going to drop its $45.2 billion bid to buy Time Warner Cable, Bloomberg's Alex Sherman reports.

Comcast is bowing out of bidding amid expectations that regulators were going to kill the deal anyway.

Bloomberg says Comcast's announcement will come as soon as Friday.Advertisement

The transaction was first announced in February of 2014.

Opposition to this deal has always been based on the idea that Comcast and Time Warner Cable already provide customers poor service and that they would have less incentive to improve that service after they combined. There would be one less competitor in the market.

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