Comcast buying Time Warner Cable for $45.2 billion2014-02-13 10:08 by Daniela
Tags: Comcast, Time Warner Cable
Comcast Corp. agreed to acquire Time Warner Cable Inc. for $45.2 billion, combining the two largest U.S. cable companies in an all-stock transaction. The takeover comes as a surprise after months of public pursuit of Time Warner Cable by smaller rival Charter Communications Inc, and immediately raised questions as to whether it would pass the scrutiny of anti-trust regulators.
The services Comcast will contribute include 50,000 video-on-demand choices on television, a further 300,000 available for streaming on XfinityTV.com, and its X1 cloud DVR (digital video recorder). Time Warner Cable will add its StartOver service for skipping back to the start of a live program in progress and LookBack, which allows customers to watch programs up to three days after they air. The merger will also add 30,000 new Wi-Fi hotspots to those already available to Comcast customers.
The companies expect to close the deal by the end of the year, subject to approval from shareholders and regulators.
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