Sources say Comcast Corp has beat out Charter Communications in a bid to acquire Time Warner Cable as the two telcos have agreed on a deal and planned to announce the merger this morning. Comcast CEO Brian Roberts confirmed the news, as expected.
Comcast has inked a transaction with Time Warner and will pay about $159 per share, amounting to a $45 billion purchase.
Charter had previously offered to acquire Time Warner for $37 billion; Time Warner, however, rejected the offer, instead asking for $160 a share.
Earlier reports suggested Charter would revise its deal. But according to the sources, Comcast has apparently won over the cable firm. The acquisition will combine the two largest cable companies in the US, though it remains subject to regulatory clearance.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI