Comcast makes another big move, making a play for Time Warner Cable.
Already the dominant player in providing pay television services to American consumers, Comcast announced on Thursday a deal to buy Time Warner Cable, which will create a behemoth that will dominate the media industry.
It is the second transformative deal for Comcast in recent years, coming just months after it completed an acquisition of NBC Universal, the TV and movie studio. And the deal, if completed, could have impacts on consumers across the country, though it is unlikely to reduce competition in many markets.
Describing the deal as “a friendly, stock-for-stock transaction,” Comcast will acquire 100 percent of Time Warner Cable’s 284.9 million shares outstanding, in a deal worth about $45.2 billion in stock value.
Original source: The New York Times
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