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Comcast Buys Time Warner
via Alternet
US cable TV giant Comcast has agreed to buy rival Time Warner Cable in a $45.2bn (£25.5bn) deal that unites the country’s two biggest cable TV operators and will control more than a third of the market.
Comcast, which owns the NBC broadcast network and the Universal film studio, offered $158.82-a-share to take over Time Warner Cable (TWC), which owns movie channel HBO and Time Magazine.
Brian Roberts, chairman and CEO of Comcast, said consumers would benefit from the “really special transaction”, adding that he was “optimistic” that regulators would allow it.
The elite who control everything we watch and read just got more elite. I have had two cable provides in my life, these two. I can tell you the service I get from Comcast sucks. Internet mostly. Always losing my signal. This is not remotely healthy for society or business. And now instead of getting our news and programming from 2 rich guys, it will be one rich guy. Side note: See the logos?
Time Warner is by far the worst cable provider I’ve ever seen…..