Bloomberg News’ Alex Sherman reports on the $44 billion deal by Comcast to acquire Time Warner Cable on Bloomberg Television’s “Bloomberg Surveillance.”
Comcast Corp. has confirmed that it agreed to buy Time Warner Cable Inc. for about $45.2 billion in stock, or $158.82 per share. Pending regulatory approval the deal is expected to close by the end of the year. Boards of both companies have approved the purchase.
Comcast operates in Boston, Washington and Chicago, while Time Warner Cable is operated in New York as well as Los Angeles, Dallas and Milwaukee. AT&T and Verizon would be the main competitors of the combined Comcast/Time Warner Cable.
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