Time Warner Cable Inc. Chief Executive Officer Robert Marcus has revealed that the telecommunications company could emerge as a buyer or seller following its merger breakup with Comcast Corp., the Wall Street Journal reports.
He also mentioned that the Federal Communications Commission and Justice Department officials' decision to oppose the $45 billion deal has changed the course of the company's future plans.
"Suffice it to say that over the last couple of days it became clear that this deal was not going to be approved by the regulators, at which time Time Warner Cable and Comcast and we, me and [Comcast CEO Brian Roberts], concluded that it was in our mutual best interest to terminate the deal quickly," Marcus said, according to the site.
"What I've said repeatedly is that we are in the business of maximizing shareholder value, and we fully intend to fulfill that obligation."
The proposed merger was said to have included future deals on television packages and faster internet for customers, operated through centralized cable and internet subscription services.
Despite these benefits, the proposed merger was also criticized for the possibility of it giving too much power to Comcast, which would become the largest cable company in the United States should it take over Time Warner. Anti-monopoly and small-business advocacy groups cited unfair competition in future negotiations as a primary concern.
Time Warner Cable was founded in 1990.
