MORE damn media consolidation: Comcast to buy Time Warner Cable for $45 billion

[Triana]

LOS ANGELES — Comcast Corp. has agreed to buy Time Warner Cable Inc. for $45.2 billion in stock, or $158.82 per share, in a deal that will combine the nation's top two cable TV companies, two people familiar with the matter said late Wednesday.

The deal was approved by the boards of both companies and, pending regulatory approval, is expected to close by the end of the year, the people said.

The people spoke on condition of anonymity because the deal had not been announced formally. An announcement is set for Thursday morning, they said.

The price is about 17 percent above Time Warner Cable shares' Wednesday closing price of $135.31 and trumps a proposal by Charter Communications Inc. to buy Time Warner for about $38 billion in cash and stock worth $132.50 per share.

THE REST:

http://www.wral.com/comcast-to-buy-time-warner-cable-for-45-billion/13388368/

[VanillaRhapsody]

1. Doesn't this make them kind of a Monopoly at this point?

[Triana]

3. Absolutely. But regulations have long since been removed.

So who's gonna stop 'em?

[jsr]

2. Get ready, here it comes.

[VanillaRhapsody]

4. Yeah....they are going to buy the Internet next......

[Moliere]

7. That came with the gutting of NetNeutrality

[VanillaRhapsody]

8. Yeah but now its actually for sale!

[Rex]

5. ...

[handmade34]

6. ...

now outdated... and worse

[trublu992]

9. So now there is just one cable company? So much for the competition

the right wingers are citing as the answer to all our economic problems.

[Jesus Malverde]

10. wow...nt

[n2doc]

12. So much for anti trust

Teddy Roosevelt must be rolling over in his tomb.