Their combination would join the No. 1 and No. 2 cable company in the US to create a pay-television behemoth, but backlash by consumer advocates has already highlighted possible anti-trust roadblocks. February 13, 2014 3:32 AM PST (Credit: CNET/Marguerite Reardon) Comcast and Time Warner Cable, the country's biggest cable company, agreed to merge in an all-stock deal Thursday, confirming wide reports of their proposed combination late Wednesday night. Though consumer watchdog groups have already come out in opposition to such a deal, the companies pitched their combination for ability to provide better technology and save money. "This transaction will create a leading technology and innovation company, differentiated by its ability to deliver ground-breaking products on a superior network while leveraging a national platform to create operating efficiencies and economies of scale," they said in a release. This is a developing story. CNET will update.
Their combination would join the No. 1 and No. 2 cable company in the US to create a pay-television behemoth, but backlash by consumer advocates has already highlighted possible anti-trust roadblocks.
Comcast and Time Warner Cable, the country's biggest cable company, agreed to merge in an all-stock deal Thursday, confirming wide reports of their proposed combination late Wednesday night.
Though consumer watchdog groups have already come out in opposition to such a deal, the companies pitched their combination for ability to provide better technology and save money.
"This transaction will create a leading technology and innovation company, differentiated by its ability to deliver ground-breaking products on a superior network while leveraging a national platform to create operating efficiencies and economies of scale," they said in a release.
This is a developing story. CNET will update.
