CNBC is reporting from multiple sources that Comcast will soon announce a deal to purchase Time Warner Cable in a deal worth $44.2 billion. There are 227.9 million Time Warner Cable shares outstanding, with the deal being calculated at a total of $44.2 billion.
Time Warner Cable stock hit $135.31, with the deal seeing TWC holders earning a nice 18% premium. Comcast will reportedly divest three million subscribers in order to fan down regulatory worries. CNBC's David Faber, the man behind the report, says: "Comcast deal for $TWC does not face ownership cap restrictions, but sure to get tough review from FCC. $CMCSA wants to avoid consent decree".
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