Franken: 'Huge Victory' If Comcast-Time Warner Merger Is Dead

Sen. Al Franken praised reports that say Comcast has dropped its bid to acquire Time Warner Cable, saying it would represent "a huge victory."

Citing sources familiar with the attempted merger, The Wall Street Journal reports that Comcast decided to reverse course and abandon its plans to take over its rival.

"I've been opposed to this deal since it was first announced, and I'm glad that over the last 15 months, more and more people have come to see it the way I do," the Minnesota Democrat said in a statement. "This transaction would create a telecom behemoth that would lead to higher prices, fewer choices, and even worse service. We need more competition in this space, not less. If reports of the collapse of the deal are true, it would be a huge victory for American consumers."

It was reported this week that a group of Democrats, including Franken, Sens. Elizabeth Warren, Ed Markey, Ron Wyden, and Richard Blumenthal, along with independent Bernie Sanders, asked federal regulators to block any proposed deal between the two cable giants.

Officials from Comcast and Time Warner met with Justice Department officials Wednesday to discuss the deal, which appeared to be in trouble.

Thursday's Journal report claims the deal hit a dead end.

"On Wednesday, the FCC staff recommended that the agency designate the merger for a 'hearing,' people familiar with the matter said, a procedural move that would spark a long, potentially messy and costly legal battle," the Journal report reads. "The staff's recommendation was that approving the deal wouldn't be in the public interest, a sign that Chairman Tom Wheeler was leaning against the deal, people close to the agency's deliberations said.

"Though Comcast could fight to preserve the deal, the drawn-out process may not have been worth it, which is why such a hearing is known by regulatory experts as a deal-killer."

Last month, Comcast said its purchase of Time Warner — at a reported price tag of $45 billion — would take longer than expected because of a regulatory review.

Earlier this year, Franken said some high-tech features in televisions are cause for concern when it comes to privacy.

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