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Comcast drops Time Warner Cable bid, Charter Comm seeks to buy the cable TV

TIME WARNER CABLE logo

Comcast Corp. abandoned its $45 billion offer for Time Warner Cable after U.S. regulators raised concerns that the deal would give Comcast an unfair advantage in the cable TV and Internet-based services market.

Charter Communications, Inc. to begin talks on a deal to buy Time Warner Cable Inc., Bloomberg reported on Friday, citing people familiar with the matter.

Charter is seeking to buy Time Warner Cable quickly and has approached banks about financing.

No comments at the two companies.

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