>On Thursday, Comcast said it had agreed to buy Time Warner Cable for $45 billion. If the deal is approved, this would combine the the two biggest cable companies in the U.S. Time Warner Cable owners will be offered 2.875 Comcast shares for each share they own, valuing Time Warner Cable at about $158.82 per share.
The merger could take effect by the end of the year. Comcast said it was prepared to lose about 3 million subscribers. But it would still have about 30 million customers. Comcast Cable CEO Neil Smit will lead the merged company.
Time Warner Cable called that price “grossly inadequate” and countered with a suggestion of $160 per share, very close to Comcast’s offer.