Report: Comcast to end $45B bid for Time Warner

Facing intense regulatory scrutiny, Comcast is planning to abandon its $45 billion takeover of Time Warner Cable, people briefed on the matter told the New York Times yesterday.

Under the deal, the combined company would have controlled as much as 57 percent of the nation's broadband market and nearly 30 percent of paid television.

Opponents felt the merger would be damaging to the industry.

Read more from the New York Times.