CNBC: Comcast will buy Time Warner Cable tomorrow for $44.2 billion

After months of rumors and a public battle with Charter Communications, CNBC reporter David Faber reports that Time Warner Cable will be acquired by Comcast tomorrow.

According to his sources, the number one cable TV provider in the US make an all-stock deal worth $159 per share (about $44.2 billion) to gobble up the number two provider. Of course, any such agreement would be subject to regulatory approval from the FCC, however Faber indicates Comcast is willing to ditch about 3 million subscribers to make the deal go through.

Previous rumors suggested Comcast might split TWC with Charter, but that doesn’t appear to be on the table even after Charter proposed a new board of directors for TWC to get its deal done.

Another rumor this might put a stake in is today’s curiously-timed Apple TV leak, although we’ll wait for an official announcement of some kind to judge that.


Source: Engadget - Read the full article here

Author: Daily Tech Whip

This article is part of our 'News Tiles' service. The site is currently in Beta. When it is fully operational you will be able to search through and arrange the 'Tiles' to display a keyword, product or technology over your chosen time period. For example you would be able to display all of the leading tech articles on the new Kindle Fire, in one spot in real time. You will also have access to our own original reporting and analysis as well as a polished place to post your own thoughts & reviews here, amongst the Daily Tech Whip Community. Please let us know if you have any feedback via the contact form or via Twitter. Don't forget to come back next week and see our full site and claim your name and your own free tech blog.

Share This Post On