Two of the largest US cable conglomerates will merge following a US $ 45 billion acquisition of Time Warner Cable by Comcast, it has been reported.
Topping a bid by Charter Communications, Comcast will pay $159 per share, representing an 18% premium from Time Warner's closing price of $135.31 on Wednesday. The move will earn Comcast, the company's 15 million customers across media properties including Internet, phone and cable TV, and add it to its own 53.1 million base.
Although, experts speculate that the said deal is bound to face intense scrutiny from antitrust regulators.
Comcast deal for $TWC does not face ownership cap restrictions, but sure to get tough review from FCC.$CMCSA wants to avoid consent decree.
— DAVID FABER (@davidfaber) February 13, 2014
Seriously, where were all these self-proclaimed antitrust activists when the FTC greenlighted Mountain View's bulldozing of the web?
— Luther Lowe (@lutherlowe) February 13, 2014
But, that hasn't deterred the media giant from getting the most out of this deal.
We've added Warner Bros tv and movies to the @XFINITY On Demand Digital Store http://t.co/ac3BM7I8ym
— Comcast (@comcast) February 12, 2014
Comcast beefs up online offering with Warner Brothers movies http://t.co/ZjjCwjuCa4 via @reuters
— Comcast (@comcast) February 12, 2014
The real antitrust issue is allowing cable companies to set up non-competing fiefdoms in the first place. They are like Mafia territories.
— Stop the Cap! (@stopthecap) February 13, 2014
Here's how people have reacted so far:
If this Comcast + Time Warner merger goes through, the world will be a much slower place.
— Joey Pennacchio (@Joe_Fries) February 13, 2014
Hold your horses, people. Comcast may want Time Warner, but will it pass anti-trust review? Does DOJ have balls when it comes to teleco?
— Kathy E Gill (@kegill) February 13, 2014
I've had @comcast, I've had @TWCable, I've had @CharterCom. They all have at least one thing in common: they suck.
— (╯°□°）╯︵ƃuᴉɹʇs llnu (@0x00string) February 13, 2014
Never thought I'd see the day...JK! Comcast to buy Time Warner in killer deal. Game changing for entire industry as this plays out.
— Rebecca Schapiro (@rschapi) February 13, 2014
Comcast is rumored to be buying Time Warner Cable for $44bn. This can't be good.
— Jaron Brass (@jaronbrass) February 13, 2014
Is Antitrust law dead? How does a #TWC & #Comcast merger get approved? Meet the new "MaBell"
— Niquelle Allen (@KarolinaGurl96) February 13, 2014
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