LOS ANGELES (CBSLA/AP) — Comcast is dropping its $45 billion bid for Time Warner Cable after heavy regulatory pushback.
The combined company would have put nearly 30 percent of TV and about 55 percent of broadband subscribers under one roof, which would give the resulting behemoth unprecedented power over what Americans watch and download.
Competitors, consumer groups, and politicians have criticized the deal, saying it would lead to higher prices and less choice.
Even with Comcast saying Friday that the deal was off, cable companies are likely to keep combining as costs rise for the shows, sports and movies they pipe to subscribers and video customers decrease.
Many local Los Angeles Dodgers fans were hoping for the merger to go through because they thought Comcast would help negotiate distribution to other providers as nearly 70 percent of Southland residents are unable to watch the Blue Crew.
TWC’s SportsNetLA is on its second of 25 seasons broadcasting the Dodgers.
Many analysts expect that Charter Communications Inc., which lost out on its bid for Time Warner Cable Inc. to Comcast Corp., to resurrect its effort.
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