Comcast and TWC: TV star

Success without the stetson

AROUND four years ago Time Warner Cable (TWC) was feeling alone and unloved. It had been split off from its parent company in order for Time Warner to focus on its content businesses, and TWC on lower-growth cable television. Recently, however, TWC has lived every overlooked teen’s dream and been lavished with attention. Charter, a rival cable firm, pursued it for around eight months. In recent days the drama had become more tense, with Charter proposing a slate of directors to replace TWC’s board. Now another admirer has come forward. On February 13th, as we went to press, Comcast, America’s largest cable firm, was expected to bid around $159 a share for TWC, in an all-stock deal worth around $45 billion.That’s probably a wrap—as they say in a more glamorous part of the media business. Comcast has offered a price very close to the one TWC had previously said it wanted. Charter, which bid $132.50 a share in January, is unlikely to offer more.Comcast is already America’s largest cable operator, with around 22m subscribers. It is also, arguably, America’s most powerful media firm. Last year it completed a $28…

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