Comcast to Acquire Time Warner Cable
Comcast is intent on buying Time Warner Cable in a $45 billion deal, paying $158.82 per share of TWC stock, merging the two biggest cable companies in the U.S. The companies are waiting for government approval and expect changes to take effect by the end of the year. Charter attempted to take over the company with an offer of $130 per share, which TWC deemed as "grossly inadequate." With the acquisition, Comcast will gain even more prominence in the country's marketplace for television, broadband Internet and phone services. It will be up to the Justice Department and other federal agencies as to whether or not they will allow a sing cable company to control such a substantial proportion of the market.
By Jordan Moses
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