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:

  • Roman Lewyckyj: Phil, what do you think the chances are that Google Fiber will come to the Upstate NY area? Any at all?...
  • Houston: Very helpful. I called an pretty easily got my bill reduced by $60/month and a U300, 18Mbps and phone package. They also threw in a one-time $60 bil...
  • shunda Hawkins: Hello im experiencing the same results. We have enough people here to file a class action lawsuit!!...
  • Doom: Nice to see Rocky Miller openly whoring himself out to the telecoms against the people he's purporting to represent....
  • Oscar@SA: Come to San Antonio. I will help bury the cable in my area if needed, then I can go tell TWC to go you know where.. lol...
  • ssssssssssss: who want to make money online >>> http://adf.ly/wTP2i <<< after 3 mouth can you make almost 5 usd per day but after 1 year can youy...
  • John: Gah, they are putting up Google Fiber in NC and Georgia, but nothing in SC? Not even Charleston or Columbia or Myrtle Beach?...
  • BobInIllinois: So far, NO Google FIber in Big 10 country!!.....
  • Javier: Im having bad internet and phone signal with brighthouse for many years, I get disconnected from internet and my son xbox game is the same, technician...
  • Brian: I am an avid gamer who feels this pain as my speed drops to half (or less) during peak hours. Imagine my pain as only 10 miles away my friends have su...
  • Jason: Great article! I had U200, 18mps internet with 3 receivers, HD with no premium channels. I was paying $163/month and received a mailer from Comcast...
  • Limboaz: Figuring out how to stop the blatant corruption in Washington is one of the biggest challenges facing the American public. Frankly, crony capitalism s...

Your Account: