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Stock Market & Financial Investment News

News Breaks
February 13, 2014
06:32 EDTTWC, CMCSA, CMCSKTime 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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September 16, 2014
13:38 EDTCMCSA, TWCComcast says 'everything on track' with Time Warner Cable deal
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11:42 EDTTWC, CMCSATime Warner Cable sees Comcast deal closing early FY15
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07:27 EDTTWC, CMCSABofA/Merrill to hold a conference
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05:56 EDTCMCSA, CMCSKIAC names NBCU Cable Entertainment Chairman Bonnie Hammer to board
IAC (IACI) yesterday announced the appointment of Bonnie Hammer to the company's Board of Directors, effective September 12. Hammer serves as Chairman, NBCUniversal Cable Entertainment (CMCSA), where she leads NBCUniversal's entire cable entertainment portfolio including USA, Syfy, E! Entertainment, Bravo, Oxygen, Esquire Network, Sprout, Chiller and Cloo, as well as production entities Universal Cable Productions and Wilshire Studios.
September 12, 2014
12:33 EDTCMCSABlackstone, Bain speak to banks on possible Weather Channel sale, Bloomberg says
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08:53 EDTCMCSACSG Systems deal increases chances of takeover, says Stifel
After meeting with CSG Systems' (CSGS) management, Stifel thinks the company's expanded deal with Comcast (CMCSA) makes it a more attractive acquisition target and provides the company with "a great opportunity" to upsell products into Comcast and Time Warner Cable (TWC). Stifel thinks CSG's stock can advance meaningfully from current levels and keeps a $40 price target and Buy rating on the shares.
September 11, 2014
13:06 EDTTWC, CMCSADeal probe expanded to AT&T, DirecTV agreement, Reuters says
The state attorneys general who are collaborating with the U.S. Justice Department to figure out if Comcast's (CMCSA) purchase of Time Warner Cable (TWC) is permissible have broadened their probe to also incorporate AT&T's (T) potential acquisition of DirecTV (DTV), according to Reuters, citing sources close to the merger investigation. Reference Link
10:02 EDTCMCSAcomcast and Liberty global announce agreement to connect WiFi networks
Comcast (CMCSA) and Liberty Global LBTYA) have announced an agreement to allow users to access each other’s Wi-Fi networks, creating an international Wi-Fi access agreement that will give many Xfinity Internet and Liberty Global internet customers access to millions of new Wi-Fi access points in various countries by 2015.
09:02 EDTCMCSA, CMCSKCSG Systems selected by Comcast to power Xfinity On Campus
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September 10, 2014
11:50 EDTCMCSA, CMCSK, TWCComcast sees Time Warner Cable deal closing in early 2015
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10:26 EDTCMCSA, TWC, CMCSKDiscovery CEO says likes doing deals with Netflix, Amazon
CEO David Zaslav says Comcast (CMCSA)/Time Warner Cable (TWC) deal "presents some serious issues," is talking to FCC about deal. Says will be opportunistic with international acquisitions, but "We don't feel like we need to acquire anything at this point." Says has more subscribers than ESPN with Europsport. Comments made at the Goldman Sachs Communacopia Conference.
10:00 EDTTWC, CMCSAOn The Fly: Analyst Initiation Summary
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08:43 EDTCMCSAComcast initiated with a Buy at Canaccord
Target $62.
07:31 EDTCMCSAGoldman to hold a conference
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06:04 EDTTWCTime Warner Cable initiated with a Buy at Canaccord
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September 9, 2014
11:01 EDTCMCSA, CMCSKComcast, Univision reach long-term agreement for distribution of UDN
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07:44 EDTTWC, CMCSAComcast price target raised to $72 from $60 at UBS
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07:17 EDTTWCThe Wireless Association to hold a conference
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September 8, 2014
06:59 EDTTWC, CMCSATWC workers to split $416M if Comcast deal falls through, Reuters says
In order to keep employees from leaving while federal regulators mull the final agreement, Time Warner Cable (TWC) workers will split $416M if the company's merger deal with Comcast (CMCSA) does not transpire, according to Reuters, citing a proxy statement. Reference Link
06:20 EDTTWC, CMCSADiscovery: Comcast-TWC merger gives unfair advantage, NY Post reports
Discovery (DISCA) said Comcast's (CMCSA) takeover of Time Warner Cable (TWC) could give the combined company an unfair advantage over programmers, reports the New York Post. Discovery said the the company would have an advantage in carriage negotiations and in the advertising realms by refusing to share set-top-box data with programmers. Reference Link
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