Charter Communications has confirmed that it will buy Time Warner Cable in a deal that valued at $78.7 billion. The mega merger sets Charter up as a formidable rival to Comcast Corp. in the cable and broadband service arena.
The agreement hammered out in the four weeks since Comcast withdrew its $45 billion acquisition offer for Tw Cable works out to a pricetag of $195.71 per share for Tw Cable shareholders, based on Charter’s market closing price on May 20.
The combination will give the enlarged Charter a footprint of 23.9 million subscribers in 41 states, notably the prime markets of New York City and Los Angeles where Tw Cable is entrenched. The company projects that after the deal closes, it would have 17.3 million video subscribers and 19.4 million broadband subs. By comparison, Comcast has 27.2 million subscribers, nearly 23 million of which are traditional video subs and 22 million are broadband customers.
Charter CEO Tom Rutledge said Tuesday...
The agreement hammered out in the four weeks since Comcast withdrew its $45 billion acquisition offer for Tw Cable works out to a pricetag of $195.71 per share for Tw Cable shareholders, based on Charter’s market closing price on May 20.
The combination will give the enlarged Charter a footprint of 23.9 million subscribers in 41 states, notably the prime markets of New York City and Los Angeles where Tw Cable is entrenched. The company projects that after the deal closes, it would have 17.3 million video subscribers and 19.4 million broadband subs. By comparison, Comcast has 27.2 million subscribers, nearly 23 million of which are traditional video subs and 22 million are broadband customers.
Charter CEO Tom Rutledge said Tuesday...
- 5/26/2015
- by Leo Barraclough and Cynthia Littleton
- Variety - TV News
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