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February 13, 2014
06:32 EDTCMCSK, CMCSA, TWCTime Warner Cable to merge with Comcast in $45.2B deal
Comcast Corporation (CMCSA, CMCSK) and Time Warner Cable (TWC) announced that their Boards of Directors have approved a definitive agreement for Time Warner Cable to merge with Comcast. The agreement is a friendly, stock-for-stock transaction in which Comcast will acquire 100% of Time Warner Cable’s 284.9 million shares outstanding for shares of CMCSA amounting to approximately $45.2B in equity value. Each Time Warner Cable share will be exchanged for 2.875 shares of CMCSA, equal to Time Warner Cable shareholders owning approximately 23% of Comcast’s common stock, with a value to Time Warner Cable shareholders of approximately $158.82 per share based on the last closing price of Comcast shares. The transaction will generate approximately $1.5B in operating efficiencies and will be accretive to Comcast’s free cash flow per share while preserving balance sheet strength. The merger will also be tax free to Time Warner Cable shareholders. The new cable company, which will be led by President and CEO Neil Smit, will generate multiple pro-consumer and pro-competitive benefits, including an accelerated deployment of existing and new innovative products and services for millions of customers. “The combination of Time Warner Cable and Comcast creates an exciting opportunity for our company, for our customers, and for our shareholders,” said Brian L. Roberts, Chairman and Chief Executive Officer, Comcast Corporation. “In addition to creating a world-class company, this is a compelling financial and strategic transaction for our shareholders. Also, it is our intention to expand our buyback program by an additional $10 billion at the close of the transaction. We believe there are meaningful operational efficiencies and the adjusted purchase multiple is approximately 6.7x Operating Cash Flow. This transaction will be accretive and will yield many synergies and benefits in the years ahead. Rob Marcus and his team have created a pure-play cable company that, combined with Comcast, has the foundation for future growth. We are looking forward to working with his team as we bring our companies together to deliver the most innovative products and services and a superior customer experience within the highly competitive and dynamic marketplace in which we operate.” Through the merger, Comcast will acquire Time Warner Cable’s approximately 11 million managed subscribers. In order to reduce competitive concerns, Comcast is prepared to divest systems serving approximately 3 million managed subscribers. As such, Comcast will, through the acquisition and management of Time Warner Cable systems, net approximately 8 million managed subscribers in this transaction. This will bring Comcast’s managed subscriber total to approximately 30 million. Following the transaction, Comcast’s share of managed subscribers will remain below 30 percent of the total number of MVPD subscribers in the U.S. and will be essentially equivalent to Comcast Cable’s subscriber share after its completion of both the 2002 AT&T Broadband transaction and the 2006 Adelphia transaction. The companies said the merger agreement between Comcast and Time Warner Cable is subject to shareholder approval at both companies and regulatory review and other customary conditions and is expected to close by the end of 2014.
News For TWC;CMCSA;CMCSK From The Last 14 Days
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November 27, 2015
07:45 EDTCMCSAAmazon plans to let Prime users add other online networks, Bloomberg reports
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November 25, 2015
18:50 EDTCMCSK, CMCSAAmazon to add other networks, channels to Prime Video, Bloomberg says
Amazon (AMZN) will soon partner with "major, well-known" movie and TV channels for its Amazon Prime Instant Video streaming service, allowing customers to add other online subscriptions to their accounts, reports Bloomberg, citing sources. Prime Instant Video will also feature videos and branding from the new partners, most of which expect some form of revenue sharing with Amazon, and the company is working to allow users to directly log in to other streaming services using their Amazon credentials. The company will also sell prepackaged bundles, said the sources, adding that the features could launch as early as next month. The publication notes that the move may help Amazon better compete with Netflix (NFLX) and Hulu, a joint venture of Disney (DIS), Comcast (CMCSA, CMCSK), and Fox (FOX, FOXA). Reference Link
November 24, 2015
15:40 EDTCMCSADoJ probing Comcast's activities in cable ad sales market, WSJ says
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13:16 EDTCMCSA, CMCSKComcast says will cooperate fully with DOJ inquiry, Bloomberg reports
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12:48 EDTCMCSAComcast role in 'spot' cable ad sales market probed by DoJ, Dow Jones says
The U.S. Justice Department is investigating whether Comcast hinders competition in cable ad sales, Dow Jones added.
November 20, 2015
11:45 EDTCMCSA, CMCSKBox Office Battle: 'Hunger Games' finale expected to top box office
Lions Gate's (LGF) "The Hunger Games: Mockingjay - Part 2," the final movie based on the dystopian young adult novels, is opening this weekend at 4,175 theaters and is expecting a domestic gross in the range of $120M-$127M. Piper Jaffray analyst James Marsh said in a note to investors on November 18 that he expects the film to open domestically in the $130M range, above where it is tracking, due to limited competition and the addition of IMAX (IMAX) screens. Piper maintained its Overweight rating and $45 price target on Lions Gate shares at that time. "The Hunger Games" main competition is "Spectre" and "The Peanuts Movie," both of which are in their third weekend of release. Sony's (SNE) "Spectre," starring Daniel Craig as James Bond, is expected to earn another $15.2M-$16.8M. Fox's (FOX, FOXA) G-rated family film, starring a 3D-animated Charlie Brown, is predicted to earn an additional $12.5M-$13.2M. In other box office news, the Wall Street Journal reported that Disney's (DIS) "Star Wars: The Force Awakens," which hits theaters on December 18, has had record-breaking pre-sales. Fandango said the film has already sold more tickets than any other movie before its release, which is still four weeks away, and IMAX said the movie has "doubled" its prior pre-sales record of about $9M. Other publicly traded companies involved in filmmaking include Comcast (CMCSA, CMCSK), Time Warner (TWX), and Viacom (VIA, VIAB).
10:17 EDTCMCSKHigh option volume stocks
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November 18, 2015
06:16 EDTCMCSA, CMCSKComcast dumps YES Network, WSJ reports
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November 17, 2015
13:03 EDTTWCTime Warner Cable management to meet with Jefferies
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09:04 EDTCMCSK, CMCSAComcast: Over 1M multifamily residents using Xfinity services delivered by ACN
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06:41 EDTCMCSK, CMCSANBC comedy streaming service beta starts December 3, Engadget reports
Comcast's NBC will make its comedy streaming service available as a free public beta beginning December 3, Engadget reports. Reference Link
November 16, 2015
17:10 EDTTWCSoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).
08:03 EDTCMCSK, CMCSAComcast to add 400 new jobs in early 2016 at St. Paul office
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