Comcast may divest about 4 million subscribers after its merger with Time Warner Cable and is working to reach an accord to sell a portion of those customers to Charter Communications, a source familiar with the matter said Tuesday. Comcast is studying what could be a two-phase process, where Charter would first acquire up to 1.5 million subscribers directly from Comcast, said the source on condition of anonymity because discussions were continuing and a final agreement had not been struck.Comcast would then spin off the rest of the 2.5 million subscribers into a separate, publicly traded company, which Charter would take a minority stake in, the source added.The roughly 4 million subscribers are worth between $18 billion and $20 billion, said the source.Comcast and Charter would also swap about 1 million cable subscribers, including Charter's subscribers in Los Angeles. It was not yet clear what markets Comcast would swap with Charter or spin off, although the companies would likely trade subscribers adjacent to their exisiting markets.
Charter Communications, Inc. (Charter) provides cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers. Shares of CHTR traded higher by 2.71% or $3.35/share to $126.96. In the past year, the shares have traded as low as $99.41 and as high as $144.02. On average, 1683510 shares of CHTR exchange hands on a given day and today's volume is recorded at 1961667.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC traded higher by 1.34% or $1.83/share to $138.43. In the past year, the shares have traded as low as $89.81 and as high as $147.28. On average, 3575480 shares of TWC exchange hands on a given day and today's volume is recorded at 4743316.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.2% or $-0.13/share to $64.92. In the past year, the shares have traded as low as $55.71 and as high as $70.77. On average, 5882660 shares of TWX exchange hands on a given day and today's volume is recorded at 3678366.
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