Report: Comcast in Talks With Charter to Buy Parts of Time Warner Cable Reuters
Comcast, the top cable provider, is in discussions with Charter about a deal to buy parts of Time Warner Cable, with interest in a pact to provide Comcast with its New York market and parts of New England, reports Reuters.
Citing an unnamed source who's familiar with the situation, the story reports: “Discussions between Comcast Corp. and Charter Communications Inc. have gotten more substantive in recent days, partly because Comcast felt takeover target Time Warner Cable was seeking too high a price for itself."
In one plan under discussion, Charter would first buy Time Warner Cable, and then sell some markets to Comcast to produce cash, the story says. Talks could fall apart at any time, the piece notes.
Comcast has also been considering making a bid for Time Warner Cable, but recently has decided its rival’s asking price of $160 per share is too high.