LOS ANGELES, Calif. (AP) – Comcast Corp. has confirmed that it plans to buy Time Warner Cable for about $45.2 billion in stock in a deal that would combine the nation’s top two cable TV companies.
The deal amounts to $158.82 per share, which is about 17 percent above the Wednesday closing price of Time Warner Cable Inc. shares.
The deal trumps a proposal by Charter Communications Inc. to buy Time Warner for about $38 billion in cash and stock worth $132.50 per share and comes just a day after Charter said it was preparing a proxy fight by nominating a full slate of directors to Time Warner Cable’s board.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Arlington Renewing Efforts Toward Public Transportation
- Little Elm Police Chief Gives Update On Detective’s Fatal Shooting
- Harambe’s Grandma Passes Away At Miami Zoo
- Suspect Shot And Killed By Dallas Police Officers
- Newly Retired Astronaut Named As New A&M-Galveston Chief
- Azle Residents Take Quake Concerns To Austin
- Cowboys’ Romo Update: Complication In Back Surgery
- TCU Students Demand Higher Quality Toilet Paper
- Norovirus May Have Sickened Hundreds At School
- McKinney Native Busts Through Sochi Hotel Door
- PHOTOS: Your Pet Pictures