Breaking News Bar
updated: 4/28/2014 7:29 AM

Comcast selling some cable systems to Charter

hello
Success - Article sent! close
  • Comcast plans to sell some cable systems to competitor Charter Communications Inc. to help Comcast's acquisition of Time Warner Cable clear clear regulatory hurdles.

    Comcast plans to sell some cable systems to competitor Charter Communications Inc. to help Comcast's acquisition of Time Warner Cable clear clear regulatory hurdles.
    Associated Press

 
Associated Press

PHILADELPHIA -- Comcast plans to sell some cable systems to competitor Charter Communications Inc. to help Comcast's acquisition of Time Warner Cable clear clear regulatory hurdles.

Comcast is also creating and spinning off a new publicly traded cable provider that will serve about 2.5 million of its existing customers. Charter will form a new holding company that will have an approximately 33 percent stake in the Comcast spinoff.

In February Comcast Corp.'s $45.2 billion bid topped Charter's offer for Time Warner Cable Inc.

Comcast said Monday that the combined company will divest systems to Charter, resulting in an approximately 3.9 million video customer reduction.

Once the Comcast-Time Warner Cable deal closes, Charter will acquire about 1.4 million existing Time Warner Cable subscribers. Charter and Comcast will also each transfer about 1.6 million customers to the new company.

Article Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    Winner - 2015 Best Website
    Illinois Press Association
    Illinois Press Association