Comcast Corp offered to sell 1.4 million pay TV subscribers to Charter Communications Inc for $7.3 billion, as part of a wider transaction aimed at winning regulatory approval for its proposed $45 billion takeover of Time Warner Cable.Comcast also said it would divest another 2.5 million subscribers into a new publicly traded company, dubbed SpinCo for now, to be one-third owned by Charter and two-thirds owned by Comcast shareholders.The deal will make Charter - whose own bid for Time Warner Cable was thwarted by Comcast's higher offer - the second-biggest U.S. pay TV company with 5.7 million customers, overtaking Cox Communications Inc.Comcast will have less than 30 percent of the U.S. residential cable or satellite TV market after the deal, the company said in a statement.
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 fell by 0.37% or $-0.48/share to $130.01. In the past year, the shares have traded as low as $99.41 and as high as $144.02. On average, 1738100 shares of CHTR exchange hands on a given day and today's volume is recorded at 1913141.
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 fell by 0.71% or $-0.99/share to $139.41. In the past year, the shares have traded as low as $92.87 and as high as $147.28. On average, 3586420 shares of TWC exchange hands on a given day and today's volume is recorded at 1690732.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.67% or $-0.44/share to $65.20. In the past year, the shares have traded as low as $55.71 and as high as $70.77. On average, 5765640 shares of TWX exchange hands on a given day and today's volume is recorded at 3997438.
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