“Today, we move on,” said Comcast chairman Brian L Roberts.
“We structured this deal so that if the government didn’t agree, we could walk away.”
In March last year, the US Department of Justice (DoJ) launched an antitrust probe into the deal.
“The companies’ decision to abandon this deal is the best outcome for American consumers,” said Attorney General Eric Holder in a statement.
“This is a victory not only for the Department of Justice, but also for providers of content and streaming services who work to bring innovative products to consumers across America and around the world.”
The deal was also being scrutinised by the Federal Communications Commission, and had been criticised by some politicians and various consumer and industry groups.
Shares in Comcast declined slightly on the news, whereas Time Warner Cable’s were up slightly.
Dispatches From The Front 