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Stock Market & Financial Investment News

News Breaks
April 28, 2014
06:07 EDTCMCSA, CHTR, TWCComcast announces divesture agreements with Charter
Comcast (CMCSA) and Charter Communications (CHTR) announced that the companies have reached an agreement on a series of transactions, whereby the combined Comcast-Time Warner Cable (TWC) entity, following completion of Comcast's previously announced merger with Time Warner Cable, will divest systems resulting in a net reduction of approximately 3.9M video customers. The divestiture will reduce Comcast's post-merger managed subscriber total to less than 30% of total national MVPD subscribers. Pursuant to the agreement, and following the close of the Comcast-Time Warner Cable merger, Charter will acquire approximately 1.4M existing Time Warner Cable subscribers, increasing Charter's current residential and commercial video customer base from 4.4M to approximately 5.7M, and making Charter the second largest cable operator in the United States. Charter and Comcast will also each transfer approximately 1.6M customers respectively. In addition, Charter, through a tax free reorganization, will form a new holding company that will own 100% of Charter, and acquire an approximate 33% stake in a new publicly-traded cable provider to be spun-off by Comcast serving approximately 2.5M customers. Charter will provide management services to SpinCo. The agreement will be executed via three separate transactions, which are subject to the completion of the proposed Comcast-Time Warner Cable merger. The transfer of systems, asset purchase and SpinCo acquisition will be valued at a 7.125 times 2014 EBITDA multiple, and Charter will make additional payments to Comcast over time as tax benefits from the asset sale are realized. Comcast has reaffirmed that, after taking into account the transactions with Charter, it continues to expect its merger with Time Warner Cable to generate approximately $1.5B in operating efficiencies.
News For CMCSA;CHTR;TWC From The Last 14 Days
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August 27, 2014
11:56 EDTTWC, CMCSANY Governor Cuomo orders investigation of Time Warner Cable outage
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08:22 EDTTWCTime Warner Cable cites 'maintenance' for outage, Re/code reports
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07:17 EDTTWCTime Warner Cable says experiencing 'widespread' technical issues
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06:40 EDTTWCTime Warner Cable customers reporting outages, Business Insider reports
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August 26, 2014
11:37 EDTTWCTime Warner Cable to pay $1.1M to resolve outage reporting violations, FCC says
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10:51 EDTTWC, CHTR, CMCSAZoom Telephonics files FCC petition opposing Charter's cable modem policies
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09:35 EDTCMCSA, TWCNetflix files formal protest against Comcast merger, Engadget reports
Netflix (NFLX) has filed a petition to the FCC against the proposed merger between Comcast (CMCSA) and Time Warner Cable (TWC), as the streaming company has previously indicated it would, reported Engadget. Netflix claims the deal would result in "serious public interest harm" and that a merged cable giant would have huge leverage over it and rivals like Hulu, which is a joint venture owned by Comcast itself along with partners Disney (DIS) and 21st Century Fox (FOXA). Reference Link
August 25, 2014
19:00 EDTTWC, CMCSADISH Network petitions FCC to deny Comcast, Time Warner merger
Citing irreparable harm to competition and consumers, DISH Network (DISH) petitioned the Federal Communications Commission, or FCC, to deny the merger of Comcast (CMCSA) and Time Warner Cable (TWC). The petition to deny outlines, among other things, the critical role high-speed broadband plays in the video industry and the potential for the merger to significantly damage competitive development of over-the-top video and limit consumer access to online video programming.
06:20 EDTCMCSA, TWCFCC seeks more data from Comcast regarding TWC deal, Reuters says
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August 22, 2014
05:58 EDTCMCSAComcast launches streaming TV services for college campuses, WSJ reports
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August 20, 2014
06:13 EDTTWCNetflix signs paid peering deal with Time Warner Cable, Gigaom reports
Netflix (NFLX) has signed a direct interconnection deal with Time Warner Cable (TWC) that would provide Netflix with direct access and faster streams, reports Gigaom. Time Warner Cable confirmed that the deal happened in June and the implementation has been rolling out this month. Reference Link
August 18, 2014
08:05 EDTTWCTime Warner Cable price target raised to $173 from $148 at UBS
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