Please wait...
Please wait...

Comcast set for $45bn TWC takeover

US cable and programming giant Comcast has reached a deal to buy Time Warner Cable (TWC) for US$45.2bn (£27bn) in stock, according to widespread reports.

The deal, expected to be announced later today, will unite leading US cable operator Comcast Communications, with 23 million subscribers, and second largest operator TWC, with around 12 million.

The combined entity will also be a massive content provider – as owner of NBCUniversal, Comcast controls the NBC and Telemundo broadcast networks, Universal Pictures film and TV studio and cable networks including USA Network, Bravo, CNBC, Oxygen and Syfy.

TWC has had no programming operations since it was spun off from the rest of Time Warner, including the Warner Bros film and TV studio, in 2009.

The move is likely to be closely scrutinised by US regulators before it is approved.

The Comcast move trumps a bid – rejected by TWC – of around US$38bn in cash and stock from smaller US cable operator Charter Communications last month. https://www.c21media.net/charter%E2%80%99s-twc-bid-rejected/

Charter had offered US$37.3bn – at US$132.50 a share – to buy the firm. Including debt, the deal was worth around US$61bn and TWC shareholders would have got 45% ownership in the combined company. However, TWC accused Charter of trying to buy it for a “bargain price.” Liberty Global was also thought to be a potential TWC buyer.

Please wait...