Oh Wonderful!!! Media/Cable/Web just got even more consolidated! Comcast to buy TWarner [View all]

[Armstead]

Well as if we weren't enslaved enough to a handful of Media Giants....A new monopoly is being formed.

We are so lame if we allow these things to keep happening. Pretty soon this country will just be One Big Corporation....With the help of leaders of both political parties....The article says it wil face FCC scrutiny, but we've heard that one before.

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http://www.bloomberg.com/news/2014-02-12/comcast-said-to-agree-to-pay-159-a-share-for-time-warner-cable.html

Excerpts:

Comcast Corp. (CMCSA) agreed to acquire Time Warner Cable Inc. for about $44 billion, combining the largest two U.S. cable companies in an all-stock deal, according to four people familiar with matter.

Comcast Chief Executive Officer Brian Roberts will extend his lead in the U.S. cable-TV market after trouncing John Malone-backed Charter Communications Inc. (CHTR), which had courted Time Warner Cable since June. Holding out for a better offer than Charter’s $132.50-a-share bid allowed Time Warner Cable to deliver an almost 70 percent gain for shareholders since the end of May.
“This leaves Comcast as the sole king of the cable hill, with John Malone and Charter hitting a brick wall in their hopes of becoming a close number-two,” Richard Greenfield, an analyst with BTIG LLC, said by e-mail. “This is a game changer for Comcast.”

A tie-up between Comcast and Time Warner Cable would face tough scrutiny from the Federal Communications Commission, Craig Moffett, an analyst at MoffettNathanson LLC, said in an interview in January. The merged company would account for almost three-quarters of the cable industry, according to the National Cable Television Association.

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