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Comcast To Buy Time Warner Cable
Andrew Hart huffingtonpost.com Comcast has reached an agreement to buy Time Warner Cable in a $45 billion deal that, if it goes through, would create by far the biggest cable company in the United States. CNBC's David Faber first reported the news on Wednesday night. He said that the deal would be made on Thursday morning. His scoop was quickly corroborated by multiple outlets. On Thursday morning, both companies confirmed the deal, which has been set at $45.2 billion. The companies expect the merger to be completed by the end of the year CNN'S Brian Stelter reported. The resulting company would have over 33 million subscribers, but Comcast plans to drop 3 million of its customers to appease regulators. The deal is certain to draw scrutiny from the FCC, since it would combine the biggest and second-biggest cable companies in the country. As the Times noted, though, the two companies mostly operate in different places: "Comcast and Time Warner Cable compete in very few markets. As a result, few consumers will see their choices of cable operators reduced." to read more: huffingtonpost.com
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