In this Thursday, Jan. 9, 2014, photo, a Comcast cable truck works in front of a home in Mount Lebanon, Pa. Comcast reports quarterly earnings on Tuesday, Jan. 28, 2014.(AP Photo/Gene J. Puskar) AP Photo/Gene J. Puskar
© 2024 Blaze Media LLC. All rights reserved.
Comcast to Buy Time Warner Cable, Combining Two Largest U.S. Cable Companies: Report
February 12, 2014
A deal worth $45 billion.
Comcast Corp. will announce on Thursday morning that it has agreed to buy Time Warner Cable Inc. in an all stock deal worth $159 a share, or $45 billion, four sources familiar with the situation told Bloomberg.
The deal would combine the two largest cable companies in the U.S.
In this Thursday, Jan. 9, 2014, photo, a Comcast cable truck works in front of a home in Mount Lebanon, Pa. Comcast reports quarterly earnings on Tuesday, Jan. 28, 2014.(AP Photo/Gene J. Puskar)
“In the deal, Time Warner Cable shareholders will receive $158.82 a share in stock for their shares, about $23 a share above where TWC has been trading,” the Wall Street Journal reports. “Charter has made three offers, the most recent of which was valued at $132.50, all of which were rejected by TWC as too low.”
According to CNBC, the deal does not "face ownership cap restrictions, but is expected to get a tough review from the FCC."
TheBlaze recently outlined how 9 TV distributors control roughly 91 percent of channel lineups. Because a number of huge companies have so much control over major programming on TV, it is harder for new or smaller networks to get a seat at the table.
With this deal, Comcast only stands to grow even more influential in the cable industry.
Want to leave a tip?
We answer to you. Help keep our content free of advertisers and big tech censorship by leaving a tip today.
Want to join the conversation?
Already a subscriber?
more stories
Sign up for the Blaze newsletter
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.
© 2024 Blaze Media LLC. All rights reserved.
Get the stories that matter most delivered directly to your inbox.
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.