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Age : 58
Public asset : 43,260,708 USD
Biography : Mr. Aliko Dangote is Non-Executive Chairman at Dangote Sugar Refinery Plc, President & Chief Executi
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COMCAST : TIME WARNER CABLE DROP MERGER PLAN

04/25/2015 | 02:34am US/Eastern

New York

Comcast and Time Warner Cable yesterday announced they had scrapped their mega-merger plans, amid opposition from US antitrust regulators to the tie-up of the cable and broadband Internet giants.

“Today, we move on,” Comcast chairman Brian Roberts said in announcing the end of a $45 billion deal.

“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.”

TWC said in a separate statement the two firms had “mutually agreed to terminate their merger agreement,” which had drawn criticism from consumer activists and some lawmakers for giving too much market power to a single firm.

“The companies’ decision to abandon this deal is the best outcome for American consumers,” said Attorney General Eric Holder in a statement.

Comcast and TWC — spun off in 2009 from media giant Time Warner — had argued the deal would not hamper competition because their territories have little overlap. They also said cable was getting increasing competition from video streaming services Netflix and Amazon, among others.

If allowed to proceed, the deal would have given the combined firm more than 30 million customers over a large swath of the United States.

It would also give Comcast a unique position because of its ownership of NBCUniversal — which includes the NBC television network and other channels. Comcast’s role as network owner and television provider could create conflict with other carriers.

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(c) 2015 Daily Tribune. All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Latest news about Aliko Dangote 
03/30 ALIKO DANGOTE : Dangote Cement Targets 5,000 Jobs From Senegal Operations
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03/27 ALIKO DANGOTE : Dangote Cement Records N158bn Profit, Declares N6 Dividend
03/24 ALIKO DANGOTE : Dangote's Pan-African Cement Drive
03/23 ALIKO DANGOTE : Dangote to Inaugurate East Africa's Biggest Cement Factory in Ethiopia
03/09 ALIKO DANGOTE : Edwin - How We Built Dangote Group Into Largest Manufacturer in Africa
02/18 ALIKO DANGOTE : Dangote Has A Thing For Doing It Big
02/16 ALIKO DANGOTE : Nigeria's Africa's choice investment destination despite challenges –Dangote
01/26 ALIKO DANGOTE : CLO Demands N50 Million Compensation for Accident Victim From Dangote
01/22 ALIKO DANGOTE : Dangote, Ofor Get Abuja Chamber Award
01/11 ALIKO DANGOTE : Dangote sparks fight for Kitui limestone mines
01/05 ALIKO DANGOTE : Aliko Dangote's Humble Drive to the Top
01/03 ALIKO DANGOTE : Aliko Dangote's humble drive to the top
2014 ALIKO DANGOTE : Dangote Loses U.S.$7.8 Billion As Naira, Stocks Plunge - Forbes
2014 ALIKO DANGOTE : Billionaire loses $7.8 billion to Naira devaluation
1  2  3  4  5  6  7  8  9  10Next

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