Few industries have been as embroiled in merger mania as telecommunications. Now, with another mega-deal in the works, will there be even more consolidation among others?
Under the terms of the $48.5 billion deal, AT&T will pay about $95 a share in stock and cash as it looks to gain leverage in negotiations over its video offerings.
AT&T is poised to announce a takeover, people briefed on the matter said on Saturday, ushering in another transformation of the telecommunications industry.
The arrangement with Comcast, which has agreed to acquire Time Warner Cable, would allow Charter Communications to become the country’s second-largest cable operator.
The company is paying $1.6 billion for LIN Media, another operator of local TV stations, and will run 74 stations in 46 markets. Only Sinclair Broadcasting manages more stations.
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Rob Marcus, who became chief executive of Time Warner Cable in January, will receive nearly $80 million if the deal to sell the company to Comcast closes.
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With Comcast proposing to buy Time Warner Cable, other companies that own cable networks are watching nervously, and may look to consolidate.
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Comcast’s proposed acquisition of Time Warner Cable comes at a moment of seismic change in the television industry, as growing numbers choose Internet streaming over cable service.
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The deal for Time Warner Cable solidifies Comcast’s reputation as an enterprise with grand, even audacious, ambitions.
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Comcast was not intensely engaged with Time Warner Cable until about 10 days or so prior to the announcement of the $45 billion acquisition, according to Comcast’s chief.
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Comcast will announce a deal to acquire Time Warner Cable in an all-stock deal that will unite the first- and second-largest cable television operators in the country, according to people briefed on the matter.
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In its most aggressive move yet to take over Time Warner Cable, Charter is proposing a full slate of directors to its target’s board.
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Charter Communications has been vocal about its desire for a deal with Time Warner Cable, and it is preparing an offer that mixes cash and Charter stock.
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