LazyLion
King of de Jungle
Cable operator Comcast on Thursday confirmed it plans to buy Time Warner Cable for about $45.2 billion in stock in a deal that would combine the top two US cable TV companies.
The joint announcement marks Comcast's triumph over the nation's fourth largest cable operator, Charter Communications and its biggest shareholder, Liberty Media Corp.
The deal amounts to $158.82 per share, about $23 a share above where TWC has been trading and comfortably above Charter's offer of $132.50 a share, which was rejected as too low.
Comcast, which owns prominent entertainment company NBCUniversal, parent of the NBC broadcast network, is already the dominant force with nearly 22 million video subscribers, compared to Time Warner Cable's estimated 12 million.
fga/pst/dw
COMCAST
TIME WARNER CABLE
Source : Sapa-AFP /lk
Date : 13 Feb 2014 14:57
The joint announcement marks Comcast's triumph over the nation's fourth largest cable operator, Charter Communications and its biggest shareholder, Liberty Media Corp.
The deal amounts to $158.82 per share, about $23 a share above where TWC has been trading and comfortably above Charter's offer of $132.50 a share, which was rejected as too low.
Comcast, which owns prominent entertainment company NBCUniversal, parent of the NBC broadcast network, is already the dominant force with nearly 22 million video subscribers, compared to Time Warner Cable's estimated 12 million.
fga/pst/dw
COMCAST
TIME WARNER CABLE
Source : Sapa-AFP /lk
Date : 13 Feb 2014 14:57