Regulators React to Comcast Announcement

After Comcast announced it would no longer pursue its acquisition of Time Warner Cable, Washington policymakers responded:

"Comcast and Time Warner Cable’s decision to end Comcast’s proposed acquisition of Time Warner Cable is in the best interests of consumers. The proposed transaction would have created a company with the most broadband and video subscribers in the nation alongside the ownership of significant programming interests,” said Federal Communications Commission Chairman Tom Wheeler. "Today, an online video market is emerging that offers new business models and greater consumer choice. The proposed merger would have posed an unacceptable risk to competition and innovation especially given the growing importance of high-speed broadband to online video and innovative new services.”

"The companies' decision to abandon this deal is the best outcome for American consumers," said Attorney General Eric Holder. "The Antitrust Division of the United States Department of Justice has demonstrated, time and again, that it can and will defend the interests of the American consumer no matter the complexity of the issue or the size of the opponent. This is a victory not only for the Department of Justice, but also for providers of content and streaming services who work to bring innovative products to consumers across America and around the world. I commend the Antitrust attorneys and investigators whose outstanding work led to this outcome, and I know that the Department of Justice will continue to fight for fair access and free competition in every industry and every market."

“Comcast’s proposed merger with Time Warner raised antitrust concerns in both the video and broadband markets,” Sen Mike Lee (R-UT) said. “As chair and ranking member of the Judiciary Committee’s Antitrust Subcommittee, Senator Klobuchar and I sent a letter to the Federal Communications Commission and the Department of Justice urging them to carefully review the merger’s effects on competition. I am glad these agencies took our concerns seriously. I look forward to continuing my oversight work with Senator Klobuchar this Congress. We are both committed to ensuring vigorous competition and protection for consumers in this market.”

“Today’s announcement further illustrates the important role that antitrust enforcement continues to play protecting consumers in quickly changing technology markets,” said Sen Amy Klobuchar (D-MN). "Both the Department of Justice’s Antitrust Division and the Federal Communications Commission thoroughly examined the proposed Comcast/Time Warner merger and concluded that the transaction raised serious concerns, including those that Senator Lee and I highlighted last year around the effect on competition. As ranking member of the Antitrust Subcommittee, I will continue to work with Senator Lee to monitor and review potential consolidation in the communications marketplace to protect consumers and preserve competition.”

Sen. Al Franken (D-MN) said, “This is a great day for American consumers. When Comcast's proposal to buy Time Warner Cable was first announced 15 months ago, I came out against it, saying that it would be terrible for consumers. Tens of millions of Americans would have faced higher prices for cable and broadband services, fewer choices, and even worse service. It looked like a lost cause, especially given Comcast's lobbying might: they hired an army of more than 100 lobbyists and spent millions of dollars on advertising to sell the deal. But more and more people came to see it the way that I did and joined the fight. People believe, as I do, that consumers should come first when it comes to technology policy. This was an uphill battle, and I'm enormously proud of our victory.”

"This was a bad idea from the start and although the big cable companies kept telling us it was going to be a good deal for consumers, the public knew better," said Rep Chellie Pingree (D-ME). "Tens of thousands of Americans spoke up and I think it became clear to Comcast they weren't going to be able to get away with making themselves the only cable or Internet provider for millions of Americans. I think the FCC and the Department of Justice did their jobs and heard what the American people had to say..."