Comcast Corp said it would shed 3.9 million video customers as part of its proposed $45 billion merger with Time Warner Cable Inc, with Charter Communications buying 1.4 million.A source familiar with the deal said Charter would pay $7.3 billion for the subscribers and that the overall divestment was worth about $20 billion.The other 2.5 million subscribers included in the divestment will be taken on by a new publicly traded company, dubbed SpinCo for now, that will be spun off by Comcast.Comcast shareholders, including former Time Warner Cable shareholders, will own about 67 percent of SpinCo, while a reorganized Charter would own about 33 percent.
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 1911733.
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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