Comcast to Buy Time Warner Cable

Published 02/13 2014 09:44AM

Updated 02/13 2014 10:00AM

(CNN)—Comcast plans to buy Time Warner Cable for $45 billion.

An official announcement came Thursday morning. If approved, the merger will combine the two biggest cable companies in the U.S.

The two companies expect the merger to take effect by the end of the year, but regulators are likely to take a close look at the potential impact on consumers.

To address those concerns, Comcast said it was prepared to divest about 3 million subscribers. But it would still have about 30 million customers.

By swallowing Time Warner Cable on its own, Comcast will gain even more leverage over the country's marketplace for television, broadband Internet and phone services.

Comcast has about 23 million television subscribers in markets like Philadelphia, where it is headquartered.

With millions more subscribers, Comcast will add muscle in its negotiations with cable channel owners like The Walt Disney Company and Time Warner, the parent company of this website. (Time Warner Cable was spun off from Time Warner in 2009 and no longer has any connection to the owner of CNN, HBO and Warner Bros.)

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