According to Venturebeat and several sources Comcast company will buy Time Warner Cable. CNBC’s David Faber says the deal will be $45.2 billion, Faber did not name his sources.
— DAVID FABER (@davidfaber) February 13, 2014
Comcast Corporation confirmed early Thursday its plan to buy Time Warner Cable for $45.2 billion. The deal expands the vast reach of Comcast, already the largest cable company and the owner of NBCUniversal.
That would be close to the $160 per share figure that Rob Marcus, Time Warner Cable’s president, was hoping for. It’s unclear if a Comcast-Time Warner Cable deal would receive regulatory approval. The Federal Communications Commission (FCC) might not be so hot on a deal that would bring together such big public-facing service providers.
According to THEWRAP: Both company boards have approved a definitive agreement for the merger, first reported Wednesday by Reuters and other outlets. In the friendly, stock-for-stock transaction, Comcast will acquire 100 percent of Time Warner Cable’s 284.9 million outstanding shares for Comcast shares worth $45.2 billion in equity value.