WATCH: Comcast Chairman & CEO Brian Roberts and Time Warner Cable CEO Robert Marcus discuss the mega-deal and why it will be good for consumers
TORONTO – In a deal that will drastically change the American media landscape, Comcast announced a $45.2 billion (or $158.82 per share) all-stock acquisition of Time Warner Cable.
The merger will make Comcast the largest cable provider in the U.S., with over 33 million subscribers.
The Federal Communications Commission will have to review the purchase before the deal can move forward.
Four years ago Comcast purchased a stake in NBC Universal from General Electric valued around $30 billion.
Time Warner Cable launched in 1989. It was controlled by the Time Warner film and television production company until early 2009. It has run independently of the parent company since.
-with files from The Associated Press
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