Comcast and Time Warner Cable announce their Boards of Directors have approved a merger of the two companies. The proposal is for a friendly stock-for-stock transaction, with Comcast acquiring 100 percent of the other company’s shares. TWC Chairman/CEO Marcus says:
This combination creates a company that delivers maximum value for our shareholders, enormous opportunities for our employees and a superior experience for our customers. Comcast and Time Warner Cable have been the leaders in all of the industry’s most important innovations of the last 25 years and this merger will accelerate the pace of that innovation.