NEW YORK (AP) -- Rupert Murdoch's 21st Century Fox is abandoning its attempt to take over Time Warner in a proposed deal that would have combined two of the world's biggest media companies.
Comcast Corp. on Tuesday presented its case to government regulators arguing that its $45 billion takeover of Time Warner Cable Inc. will benefit consumers without limiting competition.
Consumer advocates are worried the pending deal between the nation's top two cable TV companies could lead to higher cable rates and poor service for consumers in New Jersey.
Cable subscribers don't give Comcast and Time Warner Cable good grades when it comes to customer satisfaction. So after Comcast announced its $45 billion purchase of Time Warner Cable Thursday, it didn't take long for consumers to start venting their frustrations over high prices, spotty service and fears of a monopoly.
Time Warner Cable, one of the two big cable companies in the New York area, says it will automatically credit customers for outages caused by Superstorm Sandy.