Comcast to acquire Time Warner Cable for USD45b
(MENAFN) Comcast is to acquire Time Warner Cable for USD45 billion in stock, a move that would merge the two largest cable television operators in the US, DealBook reported
The purchase would be Comcast's second major acquisition to restructure the media landscape in the country, after it acquired NBC Universal earlier last year
The merger means that Time Warner no longer has to pursue its turnaround plan, and also that it will become part of the dominant force in cable television in the country
The merger, however, is expected to have a small effect on consumers as the two companies compete only in few markets
According to the National Cable and Telecommunications Association, Comcast has nearly 22 million television customers, while Time Warner Cable has around 11 million video subscribers
The purchase would be Comcast's second major acquisition to restructure the media landscape in the country, after it acquired NBC Universal earlier last year
The merger means that Time Warner no longer has to pursue its turnaround plan, and also that it will become part of the dominant force in cable television in the country
The merger, however, is expected to have a small effect on consumers as the two companies compete only in few markets
According to the National Cable and Telecommunications Association, Comcast has nearly 22 million television customers, while Time Warner Cable has around 11 million video subscribers
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment