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Comcast, Charter near pact on Time Warner Cable deal: report [January 28, 2014] NEW YORK (Reuters) — Charter Communications Inc <CHTR.O> has agreed in principle to sell Time Warner Cable Inc's <TWC.N> New York, North Caroline and New England assets to Comcast Corp <CMCSA.O>, if it succeeds in buying Time Warner Cable, according to a Bloomberg report on Monday. |
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The deal would hinge on Charter's successful
acquisition of Time Warner Cable, Bloomberg said, citing
anonymous sources. Under the framework agreement, Charter would
buy all of Time Warner Cable on its own and later sell these
markets to Comcast, they added. Reuters reported on Friday that Comcast was seeking an agreement
that would give it the New York market and parts of New England. The people declined to be named because the matter is not
public, Bloomberg said. A spokesman for Charter declined to
comment while a Comcast representative could not immediately be
reached. Charter has offered $132.50 per share for Time Warner Cable,
which rejected the bid as "grossly inadequate." (Reporting by Liana Baker; editing by Steve Orlofsky) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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