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Comcast Spent $336 Million On Failed Merger

The uncertainty of the now dead Time Warner Cable merger certainly didn't hurt Comcast's broadband growth. According to the company's latest earnings report, Comcast continued to slowly bleed video subscribers (8,000 lost on the quarter) but added 407,000 high-speed Internet subscribers.

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The company's earnings state that Comcast spent $99 million during the first quarter on trying to get the merger approved, bringing the price tag for the full merger attempt to around $336 million. Of course Comcast saw a net income of $2.1 billion on revenues of $17.9 billion during just the last three months.

"At Comcast, we have great products and technologies, and we were excited about bringing these capabilities to additional cities," CEO Brian Roberts told attendees of the company's earnings call. "The government ultimately didn’t see it the same way."

Of course it wasn't the offering of new products the government took issue with. It was, according to many reports, Comcast's failure to adhere to NBC merger conditions -- combined with the company's sheer size and market leverage (they would have served 57% of all broadband subscribers in the country) that gave regulators pause.

Most recommended from 58 comments



Hazeleyze
join:2003-05-09
Wauseon, OH

14 recommendations

Hazeleyze

Member

Failed Merger

failed merger fee $5

Overtkill
Premium Member
join:2005-09-21
Tooele, UT

3 recommendations

Overtkill

Premium Member

Interesting...

What never ceases to amaze me is the amount of cash these companies hemorrhage on lies and their utter gimmicky bullshit, instead of investing it into fixing what is broken with the company itself.
swanlee
join:2013-12-05

2 recommendations

swanlee

Member

And we are going to pay for it

Yep Data caps and mysterious extra charges of a couple of bucks added on each month to each bill is going to be pushed out to pay for it.

No matter what Comcast does they make sure the customer gets screwed.
wkm001
join:2009-12-14

2 recommendations

wkm001

Member

I have to believe

I have to believe public outcry had something to do with the merger decision. The regulatory agencies only had to list one good reason.