The country’s two largest broadband cable companies are becoming one: On Thursday morning, Comcast (s CMCSA) confirmedreports that it is acquiring Time Warner Cable (s TWC). The all-stock deal is worth $45.2 billion at $159 a share.
Comcast is acquiring TWC’s 11 million subscribers — who are located in “key geographic areas, including New York City, Southern California, Texas, the Carolinas, Ohio, and Wisconsin” — bringing the total number of subscribers affected to about 30 million. As Om points out, that’s not just cable customers: “The two companies together will control about half of what is called triple-play services — video, voice and internet — in the U.S.”
To alleviate antitrust concerns, Comcast said it’s “prepared to divest systems serving approximately 3 million managed subscribers…Following the transaction, Comcast’s share of managed subscribers will remain below 30 percent of the total number of MVPD subscribers in the U.S. and will be…
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