It’s official: Confirming the leaks from last night, Comcast has announced it will acquire Time Warner Cable . This combination of the country’s #1 and #2 cable companies will stretch from coast to coast, as TWC controls markets like New York City, LA and Texas, while Comcast strongholds include Philadelphia and Washington DC. TV isn’t the only medium in play either, since as Gigaom points out, the two companies together cover not only 30 million+ cable TV subscribers, but also around the same number of internet connections, and about 15 million phone lines. So, what’s the likely impact for customers as a result of the deal? Right away, probably not much, and for several reasons. It will take time for the combo to gain regulatory approval from the FCC and Justice Department, like the lengthy acquisition process we saw when Comcast snatched up NBCUniversal a few years ago. Despite that, both parties expect the deal to close by the end of this year. As part of the announcement, Comcast says it’s “prepared to divest systems serving approximately 3 million managed subscribers, ” and expects to gain about 8 million net subscribers with the move. Comcast is still trying to roll out its new X1 TV platform including cloud DVR access, while Time Warner Cable brings its own setup, complete with StartOver and LookBack VOD features that let viewers go back in time without a DVR. Filed under: Home Entertainment , Internet , HD Comments Source: Comcast , Time Warner Cable
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Comcast and Time Warner Cable’s $45 billion merger puts 30 million customers under one roof
