Home » Charter »Comcast/Xfinity »Competition »Consumer News »Public Policy & Gov't »Video » Currently Reading:

Comcast Seeking Buyout of Time Warner Cable Customers in N.Y., New England, and N.C.

Phillip Dampier January 27, 2014 Charter, Comcast/Xfinity, Competition, Consumer News, Public Policy & Gov't, Video No Comments

Comcast-LogoComcast Corporation and Charter Communications are actively working on a deal to let Comcast acquire Time Warner Cable subscribers in New York, New England, and North Carolina, according to sources reporting to CNBC.

The split-up of Time Warner Cable is contingent on a successful takeover bid by Charter Communications, which would quickly sell the systems in the three regions to Comcast for an undisclosed sum.

CNBC reports Comcast and Charter are close to agreeing on terms, but Time Warner Cable and Charter remain far apart on the terms of Charter’s takeover bid.

Charter_logoComcast’s involvement in the deal could inject much-needed cash into a takeover bid financed largely by debt. It might also prompt Charter to sweeten its offer for TWC.

Comcast’s interest in the northeast and mid-Atlantic region is not surprising. The cable company already has a large presence in eastern Massachusetts, New Jersey, Maryland, D.C., and Virginia. Time Warner Cable is the dominant cable company in New York, western and northern New England, and North Carolina.

Charter would likely keep Time Warner Cable’s operations in Texas, California, the midwest and south for itself if it succeeds in a takeover.

Charter has reportedly has hired Innisfree M&A, a proxy solicitor, to prepare for a possible proxy fight with Time Warner. Innisfree specializes in convincing shareholders to agree to proposed mergers and acquisitions.

Liberty Media, which has a substantial ownership interest in Charter Communications, is also appealing directly to Time Warner Cable stockholders and is planning to run its own slate of candidates for Time Warner Cable’s board of directors. Should Liberty-nominated candidates attract a majority of votes at the annual shareholder meeting in May, the new board members are expected to quickly approve a sale of the cable company.

http://www.phillipdampier.com/video/Bloomberg Comcast Charter Near Pact on Time Warner Assets 1-27-14.flv

Comcast Corp. is near a deal to buy New York, North Carolina and New England cable assets from Charter Communications, Inc. if shareholders approve Charter’s takeover bid for Time Warner Cable Inc., people with knowledge of the matter said. Alex Sherman reports on Bloomberg Television’s “Money Moves.” (3:28)







Search This Site:

Contributions:

Recent Comments:

  • Tim: You know this is overstating the case ... unlimited data adsl2 plans are available from $60 in Australia. Average price is about $90...
  • nabibom.tistory.com: There's certainly a great deal to know about this subject. I really like all the points you made. Feel free tto visit my site :: music writing (...
  • Tandy: Produced and introduced in 1983 when Casio engineers dealing with the challenge of developing the world's toughest watch ever. Since then, G-Shock ha...
  • Icio.us: After you might be signed lets start work on Verizon's hotspot service, you are able to turn your Droid X right into a hotspot. The sound you'll ...
  • Phillip Dampier: I think 10/Gbps is available in the USA as well, on an obscenely expensive metro Ethernet or commercial fiber link provisioned by a telecom company. ...
  • Phillip Dampier: Singapore is doing a much better job than Malaysia with fiber speeds and pricing, and competition is what is driving speeds up and prices down. If you...
  • Phillip Dampier: We've covered South African broadband here before. At least South Africa now has uncapped broadband, so count that as a victory. International capacit...
  • SumTinWong: So korea, how much bandwidth do you have to other countries. It's all nice and good if you got supergigabit but only get 1mbit to facebook/netflix. In...
  • Richard: In New Zealand using Vodafone Supernet (Coaxial Cable. Plan Speeds are 50mb/s / 2mb/s) Test just ran from Christchurch to other side of Australia, Pe...
  • G Hamar: Why am I not surprised at this - S.Korea is the de facto standard by which all others must now try to reach. You hear Comcast & Time Warner Cable...
  • Gaurav K. Guha: I live in Mumbai, India. I currently have a 50 mbps connection for which i pay 1200 rupees a month. Thats approximately 20 usd. So.... Haha!...
  • friesian: German here. For my VDSL2 broadband access with 50Mbps down and 10Mbps upstream I have to pay 30€ monthly... Just wondering about the Romanian pr...

Your Account: