It’s official: Comcast to acquire Time Warner Cable for $45.2B
We’ve seen this one coming for months now. FInally, Comcast buys TWC.
The country’s two largest broadband cable companies are becoming one: On Thursday morning, Comcast (s CMCSA) confirmedreports that it is acquiring Time Warner Cable (s TWC). The all-stock deal is worth $45.2 billion at $159 a share.
Comcast is acquiring TWC’s 11 million subscribers — who are located in “key geographic areas, including New York City, Southern California, Texas, the Carolinas, Ohio, and Wisconsin” — bringing the total number of subscribers affected to about 30 million. To alleviate antitrust concerns, Comcast said it’s “prepared to divest systems serving approximately 3 million managed subscribers…Following the transaction, Comcast’s share of managed subscribers will remain below 30 percent of the total number of MVPD subscribers in the U.S. and will be essentially equivalent to Comcast Cable’s subscriber share after its completion of both the 2002 AT&T Broadband transaction and the 2006 Adelphia transaction.” The merger is expected to close by the end of…
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