Comcast, already the nation’s largest operator of cable and internet services, is about to get bigger.
In a deal announced Thursday, Comcast revealed that it will be buying Time Warner Cable for $45.2 billion. This will grant Comcast access to many new media markets – 43 of the nation’s 50 largest markets, to be exact – as the two companies currently do not have any market overlap.
Brian Roberts, CEO of Comcast, said of the merger, “We believe this transaction is approvable,” Mr. Roberts said. “It is pro-consumer, pro-competitive, and strongly in the public interest.”
Comcast is expected to acquire about 8 million new customers as a result of the deal from such major markets as New York City, Southern California, and Texas, bringing the company’s overall customer base to about 30 million.
The merger will attract the attention of federal regulators, whose approval will be required in order to make the deal complete and ensure its compliance with anti-trust laws.
Alberto González is the Associate Editor of Aleteia’s English edition. His prior endeavors have included working in political campaigns and in the United States Senate. He also maintains an active schedule as a liturgical vocalist and organist.
A native of California, Alberto graduated from the University of California, Berkeley in 2010 with a B.A. in Music and Political Science. He currently lives in the greater Washington, D.C. area.
And today we celebrate...