A merger of the two largest cable companies in the United States is set to be announced on Thursday morning as Comcast, the largest mass-media company in the world, has agreed to purchase Time Warner Cable.
The deal, which will reportedly be an all-stock sale at $159 per share, is worth a total of $44 billion.
The purchase of New York-based Time Warner Cable will make Comcast the largest television provider in the United States with over 33 million subscribers. There has been no word as to what the future holds for those who are subscribed to Time Warner Cable, though it is expected that everything will transition to Comcast.
According to CNBC, which is owned by Comcast, it is expected that the deal will be heavily reviewed and criticized by the Federal Communications Commission (FCC).
In terms of the world of sports goes, the Los Angeles Lakers currently broadcast games on Time Warner Cable Sports Network in LA. It’s unclear if this will simply just change to a Comcast Sports Network, or if there will be more the deal.
There has been no official word from Comcast or Time Warner Cable, but we are sure to get more details about this major merger on Thursday morning.