Comcast is set to buy Time Warner Cable in an all-stock deal that values Time Warner at $159 per share, CNBC's David Faber reports on Twitter.
At $159, Comcast would be paying an 18% premium to today's closing price. It would value Time Warner Cable at ~$45 billion. Comcast is valued at $146.5 billion.
This would make one gigantic cable company.
Comcast is the biggest cable provider in the U.S. with 23 million subscribers. Time Warner is the second biggest with 12 million subscribers. The next closest is Cox with 4.6 million subs. (All numbers from Wikipedia.) Satellite company DirecTV has 20 million subscribers.
What an epic disaster that would be. From talking to American friends, Comcast is a horrible company to deal with and will screw you over at any chance, and Time Warner is the 2nd worst to deal with.
They don't compete against each other anyway. There is typically just one cable company per area. So it would just be comcast taking over time Warners area. They all suck equally. As do the phone companies and satellites.
The more troubling acquisition in the long run is the nbc and comcast one. All sorts of room for abuse when one company owns cable TV, Internet and the content.
The more troubling acquisition in the long run is the nbc and comcast one. All sorts of room for abuse when one company owns cable TV, Internet and the content.
You mean like Bell Globemedia? Yup...tons of trouble. Bell, satellite, CTV, TSN, mobility, The Source, you name it, they own it.
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Comcast to buy Time Warner for $45 billion
