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Comcast agrees to divest customers to Charter
2014-04-28 13:37:00| Telecompaper Headlines
(Telecompaper) Comcast has agreed to transfer 3.9 million cable TV customers to Charter Communications, in an attempt to secure regulatory approval for its proposed takeover of Time Warner Cable. If the deal gets approval, Charter would acquire 1.4 million TWC customers directly, growing its base by over a quarter to 5.7 million and making it the second-largest cable operator in the US. Another 2.5 million Comcast customers will be spun off into a new company 33 percent owned by Charter and to which Charter will provide management services. Comcast will spin off the other 67 percent in the new company to its own shareholders. In addition, Comcast and Charter have agreed to swap 1.6 million customers each in order to better fill in their network footprints. The agreement would ensure that Comcast and TWC's share of the US TV market does not exceed 30 percent after their merger. Comcast would still have almost 30 million customers, after acquiring around a net 7 million from TWC.
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Category:Telecommunications
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