Comcast Is Buying Time Warner Cable
According to multiple reports, Comcast will announce tomorrow morning that is acquiring Time Warner Cable for $45.2 billion, bringing the biggest and second-biggest cable companies in the United States together.
.According to multiple reports, Comcast will announce tomorrow morning that it is acquiring Time Warner Cable for $45.2 billion, bringing the biggest and second-biggest cable companies in the United States together.
CNBC's David Faber broke the news on Twitter:
Comcast to buy Time Warner Cable in all stock deal worth $159 per $TWC share- sources. Deal set for tomorrow morning. Ratio is 2.875 $CMCSA.
— DAVID FABER (@davidfaber) February 13, 2014This was quickly followed by articles from Bloomberg and Wall Street Journal saying essentially the same thing -- according to unnamed sources, Comcast is buying Time Warner Cable.
Exactly one year ago, Comcast bought GE's remaining stake in NBC Universal.
Just yesterday, the New York Times reported that Charter Communications was pressing forward with its months-long campaign to buy Time Warner Cable. Looks like that's not going to happen for Charter now.
This could be bad news for those of us who like good customer service -- Time Warner Cable and Comcast were the two lowest-ranked cable and internet providers in the American Customer Satisfaction Index.