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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
Check below for free stories on TWC;CMCSA;CMCSK the last two weeks.
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August 27, 2014
11:56 EDTTWC, CMCSK, 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 EDTCMCSA, TWCZoom 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 EDTCMCSA, TWCDISH 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 EDTTWC, CMCSAFCC seeks more data from Comcast regarding TWC deal, Reuters says
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August 22, 2014
05:58 EDTCMCSK, CMCSAComcast 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

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