Attempted purchase of Time Warner Cable by Comcast information
The Comcast and Time Warner Cable logos
On February 13, 2014, Comcast Corporation announced its intent to acquire Time Warner Cable. The deal was proposed to take the form of a stock swap, estimated at the time of announcement to be worth about $45.2 billion.[1] The two companies argued that the merger would increase their overall scale, allowing the company to become more competitive, improve customer service quality, and quicken innovation. The companies also argued that the deal would increase competition in the United States' cable television and internet markets, as they planned to divest subscribers to Charter Communications to regulate the market share of their combined operation.
The deal was supported primarily by Comcast, along with groups that were affiliated with Comcast or received financial support from Comcast or the National Cable & Telecommunications Association. It was also found that some letters in support of the merger were ghostwritten by Comcast representatives. The merger was widely opposed by various individuals, groups, and corporations, arguing that it would reduce competition through consolidation of the cable industry, lead to higher costs of service, and give Comcast greater leverage in how it distributes content owned by its NBCUniversal division to competitors, such as over-the-top services.
Citing the reduction of competition in the broadband and cable industries that would result from the merger, the Department of Justice planned to file an antitrust lawsuit against Comcast and Time Warner Cable in an effort to block it. On April 24, 2015, Comcast announced that it would withdraw its proposal to acquire TWC. Afterward, TWC would enter into an agreement to be acquired by Charter Communications.
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