The Briefing Room
General Category => National/Breaking News => Topic started by: Rapunzel on February 13, 2014, 04:43:24 am
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http://www.theblaze.com/stories/2014/02/12/comcast-to-buy-time-warner-cable-combining-two-largest-u-s-cable-companies-report/
Comcast to Buy Time Warner Cable, Combining Two Largest U.S. Cable Companies: Report
Feb. 12, 2014 10:56pm Jason Howerton
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.
“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.