LocalSYR

Reports: Comcast to buy Time Warner Cable in $45 billion merger

Two of the nation’s largest cable companies will merge as Comcast and Time Warner Cable have agreed to a merger worth $45 billion, according to multiple media reports.
Syracuse (WSYR-TV/Wall Street Journal/Bloomberg) - Two of the nation’s largest cable companies will merge as Comcast and Time Warner Cable have agreed to a merger worth $45 billion, according to multiple media reports.

The Wall Street Journal reports Time Warner Cable shareholders will receive $158.82 a share, about $23 a share above where the stock has been trading.

Bloomberg reports that Charter Communications, the fourth-largest cable company in the nation, had offered about $132.50 a share to Time Warner Cable’s management, but was rejected.

The deal is expected to be announced Thursday morning, according to Bloomberg.

For more information, head to WSJ.com or Bloomberg.com.


Page: [[$index + 1]]