Comcast shareholders have approved the company’s plan to buy Time Warner Cable for $45.2 billion, reports the Los Angeles Times.
Shareholders voted 99% in favor of the acquisition, Comcast said. The approval was expected, the publication notes. Time Warner Cable will hold its shareholder vote on the merger today, Thursday.
“After shareholders give their approval, the deal still needs the go-ahead from U.S. government regulators who are trying to ensure that the combination of the two cable heavyweights would not harm competition and consumers,” the story says.
If the deal closes, the firm would serve 30% of the country’s TV households and about 40% of those with broadband service.