Time Warner Cable shareholders approved the company’s $45.2 billion purchase by Comcast, following similar approval from Comcast’s investors, reports Bloomberg.
All that is left is regulatory approval before the two cable providers can merge, the story notes.
“More than 99 percent of shares were voted in favor of the deal, Time Warner Cable said [Thursday] in a statement after its shareholder meeting in New York. [Wednesday], Comcast’s shareholders approved the combination by an equivalent margin,” the article reports.
Regulators including the Justice Department and the U.S. Federal Communications Commission still need to sign off. State regulators are also looking into the merger, with the New York Public Service Commission set to vote on the issue Nov. 13. That agency has the ability to reject the deal.