And then it just died. Comcast (NASDAQ: CMCSA) said it is ending its $45.2 billion bid to buy Time Warner Cable (NYSE: TWC) and create the nation's largest cable and broadband company. The deal died after both the U.S. Department of Justice and FCC moved to block the deal. As a result, the companies also said the three-way agreement with Charter Communications (NASDAQ: CHTR) that would have resulted in new cable company, GreatLand Communications, is off.
The decision to drop the deal likely clears the way for regulators to approve AT&T's (NYSE: T) $48.5 billion acquisition of DirecTV (NASDAQ: DTV). AT&T's deal, as the Wall Street Journal notes, only brings together AT&T's regional U-verse pay-TV business with DirecTV's satellite operations, which lacks a strong broadband offering. AT&T expects the deal to be completed this quarter. For more on the failed Comcast/TWC deal, check out FierceCable's coverage.