Comcast to Buy Time Warner Cable in $45B Deal:
In the City of Riverside the primary cable company is Charter Communications, however across Riverside County it’s Time Warner Cable. That may change if media-giant Comcast gets its way with lawmakers and the FCC.
Comcast Corp has confirmed that it is ready to purchase Time Warner Cable, Inc. for $45.2 billion in an all-stock deal. The result would be a merger of two largest cable operators in the US.
One major concern for consumers is the monopoly it would create, and whether it would be a bad deal for consumers.
All told Comcast would have a combined total of 30 million customers, equaling about 30 percent of the cable industry for people who purchase pay television. Compare that to its closest rival, DirecTV, which claims 20 million video consumers.
Comcast is the same company which spent $17 billion purchasing NBC Universal in 2013. The deal included 10 television stations, numerous cable channels, websites and NBC produced programming. NBC also purchased rights to the Olympics up-to-and-including the Summer Olympics in 2020.
Sunday, February 16, 2014
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