Business
Comcast plans to acquire Time Warner Cable for about $45bn (£27bn), creating a company that could control three-quarters of the US cable industry. According to media reports, Comcast will pay about $159 per share for its rival in an all-stock deal. The deal comes after Time Warner Cable rejected a $60bn bid from Charter Communications last month, calling their offer "grossly inadequate". However, any merger is likely to face tight scrutiny from US regulators.
Background:
Comcast to buy rival Time Warner Cable [BBC]
Comcast to buy Time Warner Cable for $45.2 billion: sources [Reuters]
