Ron Burgundy Posted April 28, 2014 Share Posted April 28, 2014 Comcast Corp offered to sell 1.4 million pay TV subscribers to Charter Communications Inc for $7.3 billion, as part of a wider transaction aimed at winning regulatory approval for its proposed $45 billion takeover of Time Warner Cable. Comcast also said it would divest another 2.5 million subscribers into a new publicly traded company, dubbed SpinCo for now, to be one-third owned by Charter and two-thirds owned by Comcast shareholders. The deal will make Charter - whose own bid for Time Warner Cable was thwarted by Comcast's higher offer - the second-biggest U.S. pay TV company with 5.7 million customers, overtaking Cox Communications Inc. Comcast will have less than 30 percent of the U.S. residential cable or satellite TV market after the deal, the company said in a statement. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.