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.
Get weekly money news
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.
- Addiction experts say recent flood of gambling ads a problem for some Albertans
- Clinics, technicians unsure of Alberta’s new self-referral method for health tests
- Investors want ‘real proof’ AI spending is paying off, new report suggests
- Consumers using savings to pay for essentials and piling up debt: Equifax
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
Comments
Want to discuss? Please read our Commenting Policy first.