Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Technology News

 

Comcast acquiring Time Warner Cable for $45 billion

It has been rumored that Comcast, the largest cable company in the U.S., is interested in buying Time Warner Cable. Well, it looks like the rumors are true.

Feb 13 2014, 12:46am CST | by

1 Updates
Comcast acquiring Time Warner Cable for $45 billion
 
 

YouTube Videos Comments

Full Story

Comcast acquiring Time Warner Cable for $45 billion

CNBC‘s David Faber tweeted earlier this evening that Comcast will be announcing the purchase of Time Warner Cable tomorrow, Thursday. Faber says that it will be an all-stock deal with Comcast willing to pay $159 per share - roughly $23 per share higher than TWC's current stock trading.

According to Barrons , Time Warner Cable has 277.9 million shares outstanding, which would put the deal at around $44 billion. Meanwhile, the Wall Street Journal reported a much higher agreement of $45 billion, adding that the board from both companies have already approved the deal.

Comcast buying Time Warner will be like AT&T acquiring T-Mobile. That means the deal is bound to face backlash and criticism.

It already has. Some took to Twitter to express their fears about the deal,  tweeting that the acquisition will lead to fewer consumer options while giving Comcast more market control.

Comcast has over 22 million customers in the U.S. Time Warner Cable, on the other hand, has about 12 million.

Faber also tweeted that Comcast is willing to divest around 3 million subscribers to seal the deal, should it face ownership cap restrictions. Comcast has beaten another bid made by Charter Communications. The latter has been reportedly chasing TWC for months.

The latest bid, which was around $132.50, was rejected for being too low. 

 

iPad Air Giveaway. Win a free iPad Air.

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/21" rel="author">Gene Ryan Briones</a>
Gene Ryan Briones (Google+) is a technology journalist with a wide experience in writing about the latest trends in the technology industry, ranging from mobile technology, gadgets and robots, as well as computer hardware and software.

 

 

Comments

blog comments powered by Disqus

Latest stories

Jennette McCurdy Confirms &#039;Sam and Cat&#039; Cancellation Rumors
Jennette McCurdy Confirms 'Sam and Cat' Cancellation Rumors
McCurdy Also Posts a Message To Fans Saying She Is Not A Role Model
 
 
Lenovo IdeaPad Flex 15 Touchscreen Ultrabook is Great for Back to School
Lenovo IdeaPad Flex 15 Touchscreen Ultrabook is Great for Back to School
Lenovo IdeaPad is available at Amazon for $649.99. For back to school the new Lenovo Flex 15 is a great notebook. Be sure to buy yours today. Introducing the Lenovo Flex 15 - it's more than just a typical notebook....
 
 
ASUS K200MA-DS01T Touchscreen Laptop is a Great Back to School Laptop
ASUS K200MA-DS01T Touchscreen Laptop is a Great Back to School Laptop
ASUS K200MA Touchscreen laptop is available at Amazon for $299.99. Now is the time to start getting ready for baack to school. So if you are in the market for laptop for your student check out the ASUS K200MA. Everyday...
 
 
Back to School Time is Here Make Sure Your Student is Ready with the Acer Chromebook Touch
Back to School Time is Here Make Sure Your Student is Ready with the Acer Chromebook Touch
Acer Chromebook Touch is available at Amazon for $260.39. It is that time of year again time for school time to start. Be sure your student is ready with the Acer Chromebook with touch. Acer introduces its first...
 
 
 

About the Geek Mind


Read more about The Geek Mind.