Comcast and Charter are close to splitting Time Warner's assets

Comcast and Charter are working out a deal in which Charter would acquire Time Warner Cable and then sell some of those assets to Comcast. Previously, Charter offered to buy Time Warner for $61.3 billion or $37.3 billion excluding Time Warner Cable’s debt. Time Warner management rejected the amount, but Charter is attempting to push an acquisition through by appealing to shareholders.

Comcast Corp. is near a deal to buy New York City, North Carolina and New England cable assets from Charter Communications Inc. if shareholders approve Charter’s takeover bid for Time Warner Cable Inc., people with knowledge of the matter said. The asset sale would be contingent upon Charter’s acquisition of Time Warner Cable, which could still fall through, said the people, who asked not to be named because the negotiations are private. Charter has offered $132.50 per share for Time Warner Cable, valuing the cable company at $37.4 billion excluding debt. Time Warner Cable has rejected the proposal, calling it “grossly inadequate.”

Read full article

Comments