A new Comcast-Time Warner Cable deal would combine the nation’s two largest broadband providers and create a formidable cable network that would be a competitor to Charter and Verizon, two of the nation ‘s largest cable companies, sources familiar with the talks told ESPN Crikey.
In a statement to ESPN Crrs, a Comcast spokesperson said: “Comcast’s investment in Time Warner Cable and the acquisition of Charter is about expanding the value of its businesses and creating a truly competitive broadband marketplace.
Time Warner is one of the largest providers of broadband in the United States, and Comcast will be adding more fiber to the homes of our customers, expanding our network in more cities, and expanding our broadband capabilities in new markets.”
Charter’s statement added: “We look forward to joining Comcast in a successful future.
We believe the combination of Comcast and Time Warner will enable our businesses to compete with the most advanced and diverse providers of wireless, TV and other broadband, which will allow us to further expand our customer base and expand our services to more customers.”
Chapters are what allow cable companies to bundle their services into bundles for customers to purchase, allowing them to avoid the cost of a separate phone line and a separate set of wires.
Charter and Time, as well as Comcast and AT & T, are currently the only broadband providers to be in talks with each other about a merger.
Comcast has been the leading bidder in the talks, with TWC and Charter also rumored to be negotiating for the deal.
Time Warner has also been in talks about a possible merger with Comcast, with AT&&&T and Charter already in discussions, sources said.
Charter also is rumored to have been in discussions with Time Warner, according to the sources, and the two companies have been “pushing to get a deal done” in order to “get their services to customers.”
The deal would create a $45 billion combined company that could include Time Warner and Comcast, as both companies have roughly 70 million subscribers each.
Time is currently owned by Time Warner’s parent company, Time Warner Interactive.AT&’t is a $30 billion cable company, which has more than 6 million cable TV subscribers and owns cable TV channels like HBO, Showtime, CNN, Fox and more.
AT&s most recent financials include about $4 billion in debt.
A Comcast spokesperson did not immediately respond to ESPNc’s request for comment.