Comcast has been making waves lately with the growth they have experienced. as of late. Comcast CEO Brian Roberts has a huge vision for the company that expands far beyond cable television. If you didn’t know, Comcast owns NBC Universal, the Golf Channel, QVC and E!. They also own a few sports teams: the Philadelphia Flyers and Philadelphia 76ers. With such a large variety of items under their umbrella, Comcast seeks to add another powerhouse into the portfolio: Time Warner Cable.
Comcast ready to acquire Time Warner?
Time Warner Cable is the second-largest pay television operator in the U.S. This would put Comcast in first place when it comes to clout in the multimedia industry. In 2013, Comcast has $64.7 billion in revenue. Comcast has agreed to pay $45 billion dollars but has to undergo a regulatory review before the sale can take place. The transaction has already been approved by the boards of both companies. This merger would make Comcast the nation’s biggest cable operator. Comcast fought for eight months with Charter Communications over who would purchase Time Warner, with the knowledge that the winner would become a powerhouse.
In the deal, Time Warner Cable shareholders will swap each share they own for 2,875 in Comcast shares at a value of $158.82 per share per Comcast’s closing price as of Wednesday, February 12. Current Time Warner Cable shareholders will own 23% of the new company.