One of the longest running dramas in the business world will come to an end tomorrow morning with Comcast reportedly agreeing to buy Time Warner Cable for $159 a share in Comcast stock. The deal is worth some $45.2 billion.
Comcast to buy Time Warner Cable in all stock deal worth $159 per $TWC share- sources. Deal set for tomorrow morning. Ratio is 2.875 $CMCSA.
BREAKING: Comcast said to agree to pay $159 a share for Time Warner Cable
This would make the country's largest cable provider — Comcast, with almost 22 million — even larger as it adds Time Warner's subscriber pool of 12.2 million, even though the final number will probably be smaller than that.
Comcast will indicate willingness to divest 3m subs from combination with $TWC- sources.
The deal also ends Charter's contentious bidding for Time Warner Cable. A $132.50-a-share bid was rejected by Time Warner earlier this month. Comcast's bid will still have to win regulatory approval and is likely to get a tough look from the FCC.
And even if regulators bless the deal, Comcast's potential new customers — at least the ones on Twitter — are already fuming.
Comcast is apparently going to extend their evil reach
Comcast is gonna buy Time Warner Cable? Google is our only hope.
Time Warner + Comcast = You'll never watch anything on your tv or computer ever again.
Wait, so Comcast is following me to New York now? God has a funny sense of humor.
Fck Comcast yo. RT @MsBoss788 Seriously? I reallllly don't want Comcast man. I'm content with twc
Excited to see what Comcast does with Time Warner Cable on a scale of swallowing knives to hanging myself like the old woman in Airplane.
Comcast buying Time Warner Cable. Shit. From bad to worse. https://t.co/ggL7TQKwwG
Comcast is buying TimeWarner Cable. Now we're gonna see if shit customer service can truly scale.
Comcast buys TWC, bringing us all closer to shitty internet monopoly.
Time Warner being bought out by Comcast. Cable in KY bout to be shitty x2.
Comcast is buying Time Warner...it's like poop is buying crap
The thought of Comcast having an even bigger monopoly makes me ill.
@dmataconis @EdMorrissey @businessinsider Indeed. But merging Comcast & Time Warner is like merging a septic tank & a latrine
LOL. I just tried to pitch this Comcast-TWC story and my TWC service is so bad it timed out
Behold the birth of history's most god-awful company MT @BloombergTV: BREAKING: Comcast agrees to pay $159 a share for Time Warner Cable
The idea of getting stuck with Comcast will keep me awake at night. TWC is bad enough.
Never thought being a cablevision customer would actually be a good thing #comcast #timewarnercable buyout