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.
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.
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.
Matthew Zeitlin is a business reporter for BuzzFeed News and is based in New York. Zeitlin reports on Wall Street and big banks.
Contact Matthew Zeitlin at firstname.lastname@example.org.
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