TIme Warner and Comcast Merge

February 13, 2014 at 5:09 am Leave a comment

Techcrunch reports

Comcast Makes Bid To Acquire Time Warner Cable For $45 Billion

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The Time Warner Cable sweepstakes might be over. Just a few months after it was first reported that the second-largest cable firm in the nation was looking to be acquired, Comcast, the number one cable provider, has made an offer of $45.2 billion for the company.

According to multiple reports, the deal is set to be officially announced Thursday, with Comcast offering $158.82 per share in an all-stock deal.

The deal will make Comcast, already the largest cable company in the U.S., even bigger. Time Warner Cable has about 12 million subscribers, compared to Comcast’s 22 million. But not all of those customers will be joining Comcast, as the company plans to divest 3 million subs under the terms that the companies have agreed to.

One of the markets it’s expected to hold onto is New York City, where Time Warner Cable is the primary provider in Manhattan. Comcast is already a majority owner of NBC Universal, which has its home base there.”

In reality, Comcast should have no business with trying to merge with Comcast.  We already have too many big cable providers and while the cable industry is an oligarchic industry, we still need to have some form of competition between the companies

Instead of competing against each other, this is all about making the top CEOs more wealthy from exercising their stock options.  The Time Warner executives will have a golden handshake and the workers will get screwed by another layoff.  And another big telecom gets bigger so it can exercise predatory capitalistic practices especially with D.C Court striking down net neutrality law.

This should be blocked immediately and determined dead on arrival by the Feds.

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