By Kate Kellogg, The Washington TimesRead more"We're looking at a situation where a large part of the market is still not paying for internet service and they're looking to take advantage of a situation that we think could help a lot of people in rural areas," said Steve Kestler, an analyst with Forrester Research, who tracks wireless broadband."It's a bit like the cellphone market in the 1990s, w...
In an unprecedented move, Comcast and Time Warner announced today that they’ve struck a deal to buy Time Warner’s $85 billion cable company.
It’s a massive move for Comcast, which is already the largest cable provider in the US and the third-largest in the world.
Comcast will own more than 80% of Time Warner and own or lease a majority of its cable systems, which are used to carry the cable networks like HBO and CNN.
The deal is expected to be finalized in the first half of 2019, though Comcast has yet to announce what it’ll do with the rest of its holdings.
Comcast is also hoping to get rid of its Time Warner merger with NBCUniversal and its merger with CNN and Disney.
“The Comcast acquisition of Time & Warner Cable marks the end of a remarkable period in cable history, and it marks a significant milestone in our history,” Comcast CEO Brian Roberts said in a statement.
“As we continue to deliver the best online video experience to our customers, we look forward to building on this extraordinary history with a new, better and more reliable video service for everyone in the United States.”