Comcast to buy Time Warner Cable

 

Comcast Corp. and Time Warner Cable Inc. formally announced early Thursday morning that the two cablegiants would merger in an all-stock transaction valued at $45.2 billion.

Comcast will control the combined entity in a deal that values Time Warner shares at $158.82 a share.
Investors and press calls are scheduled for later Thursday morning.

Charter Communications Inc., which had launched hostile proxy fight for Time Warner Cable's board, does not seem willing to top the offer. Charter's most recent offer for Time Warner, rebuffed by its management and board, was for $132.50 a share. READ MORE