All I see is Diddy’s REVOLT TV (and, subsequently, his money) multiplying. Spotted on CNN Money:
Comcast said Thursday it had agreed to buy Time Warner Cable for $45 billion in a deal that would combine the two biggest cable companies in the United States.
If the deal is approved, the combined group will be the country’s dominant provider of television channels and Internet connections, reaching roughly one in three American homes.
Analysts say the consolidation could help Comcast to compete with satellite providers like DirecTV, wireless phone companies like AT&T (T, Fortune 500) and new streaming services like Netflix (NFLX).
“This isn’t about TV anymore — it’s about controlling a fatter, more intelligent pipe for multiple services that emanate from it,” including broadband Internet, phone and home security monitoring, said Tim Hanlon, the founder of the Vertere Group, an investment advisory firm that focuses on media and technology.
Time Warner Cable (TWC, Fortune 500) owners will be offered 2.875 Comcast (CMCSA, Fortune 500) shares for each share they own, valuing Time Warner Cable at about $158.82 per share.
Expect to see the official change (that the viewers will see) take place sometime at the end of the year (if all goes well for the merger). You can read plenty more about it here.
