LOS ANGELES – Comcast Corp. has confirmed that it plans to buy Time Warner Cable for about $45.2 billion in stock in a deal that would combine the nation’s top two cable TV companies.
Get daily National news
Get daily Canada news delivered to your inbox so you'll never miss the day's top stories.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
The deal amounts to $158.82 per share, which is about 17 per cent above the Wednesday closing price of Time Warner Cable Inc. shares.
The deal trumps a proposal by Charter Communications Inc. to buy Time Warner for about $38 billion in cash and stock worth $132.50 per share and comes just a day after Charter said it was preparing a proxy fight by nominating a full slate of directors to Time Warner Cable’s board.
Comments
Want to discuss? Please read our Commenting Policy first.