Items tagged with Comcast

A Bloomberg report that came out on Memorial Day was right on the money when it came to Charter’s ambitions to take on cable juggernaut Comcast. Bloomberg learned that Charter would scoop up Time Warner Cable (TWC) for $195 per share, valuing the transaction at roughly $55 billion. Charter confirmed the acquisition this morning, valuing each TWC share at approximately $195.71. The transaction has an equity value of $55.76 billion, but TWC has long-term debt of $22.64 billion which value the entire whole shebang at over $78 billion. The TWC acquisition will vault Charter from fourth place in the... Read more...
Comcast came up as the biggest loser in its failed bit to acquire rival Time Warner Cable (TWC) for $45 billion. Comcast wasted over $30 million on lobbying and tucked its tail between it legs once it became clear that U.S. regulatory agencies would not approve the merger. Comcast’s loss is now Charter’s gain according to a fresh report from Bloomberg. We first heard of Charters inklings to cozy up with TWC back in late April, but it appears that the relationship has gotten especially serious in recent days. The news agency has learned that Charter is willing to pay around $195 per share (a 14... Read more...
When it comes to American mega-businesses, Comcast doesn’t exactly have a sterling reputation. Its reputation is quite the opposite in fact, twice earning the top honors in The Consumerist’s Worst Company in America competition. You can blame poor customer service, a lack of humor, and wasting $32 million of its own money on the failed Time Warner Cable acquisition for Comcast’s typically “grinchy” behavior. The behavior also extended to allowing third-party streaming services to piggyback on its Internet connections. While HBO Go has been available for quite some time for the Amazon Fire TV, customers... Read more...
Comcast customers in select parts of Colorado and Oregon are about to have bragging rights over Google Fiber and AT&T GigaPower subscribers. That's because Comcast has begun rolling out its crazy-fast Gigabit Pro service to residents living in the metro Denver area and Colorado Springs, with plans of also serving parts of Oregon and Southwest Washington.Gigabit Pro is a symmetrical 2Gbps service (upload and download) that's delivered through Comcast's fiber network. It requires the installation of professional grade equipment, and residents have to live within close proximity to the network.... Read more...
The $45 billion Comcast-Time Warner Cable (TWC) merger has been dead for two weeks and talk is already turning to the next deal. But this one has an entirely different flavor, in part because it covers just one market – New York – and in part because it was proposed on stage in the middle of a panel at the Internet & Television Expo in Chicago. TWC head Rob Marcus joked about being “asked out on a date” to deflect the very public proposal made by Cablevision Systems CEO James Dolan, according to Digital Trends. The executive suggested that Cablevision and TWC could partner, rather than compete,... Read more...
Comcast is one of only two companies to be voted "Worst Company in America" multiple times, having come away with Consumerist's title in 2010 and again in 2014. The cable giant is aware that it has an image problem, one that largely stems from poor and sometimes downright horrid customers service, and it's going on a hiring spree as part of a plan to change the customer experience. One of the core elements of Comcast's plan is to create 5,500 customer service jobs over the next few years. Comcast hopes that this investment in workers will allow the company to always be on time for customer appointments,... Read more...
With the failed Comcast-Time Warner Cable merger firmly behind it, Comcast gave its customers a digital treat. But whether you see it that way will depend a lot on what Comcast services you and your family or friends use. The new Xfinity Share app is meant to let people record photos or video with their phone and stream them to a TV. More importantly, the app lets you stream live video to the TV over the Internet. (It can’t be long until this feature finds its way in to a horror movie.) Image credit: Comcast “We’re giving our customers the power to share special moments in their lives as they happen,”... Read more...
Speaking at TechCrunch Disrupt in New York on Monday, FCC chairman Tom Wheeler went on record with his thoughts on the now-dead $42 billion bid by Comcast to absorb Time-Warner Cable (TWC), saying that he thought Comcast CEO Brian Roberts made a "really good decision" in choosing to end the takeover attempt rather than continue the fight. The punditry at large thought that Philadelphia-based Comcast's bid for its New York City rival — which was launched in February 2014 — would sail through antitrust reviews, however, the FCC virtually sealed its doom when they called for a hearing,... Read more...
Still licking its wounds following the spectacular collapse of its bid to acquire Time Warner Cable (TWC), Comcast is refocusing its energy on expanding 2Gbps fiber Internet across the country. Comcast kicked off its 2Gbps Gigabit Pro service in Atlanta, and later in parts of Florida and the San Francisco Bay Area. Gigabit Pro is now expanding to none other than Chattanooga, Tennessee. It was just seven years ago that Comcast threw down the gauntlet, suing the Chattanooga Electric Power Board (EPB) to block the creation of the city’s own fiber Internet and cable TV service. The EPB only took this... Read more...
Comcast's proposed $45.2 billion acquisition of Time Warner Cable hit a brick wall when the Federal Communications Commission recommended what's called a "hearing designation order," a procedural move that tasks an administrative law judge to determine if a merger would be in the best interest of the people. Rather than go down that road, Comcast bailed on the deal, taking a $32 million hit in the process. As to Time Warner Cable, it looks as though Charter may make a run at the cable company.There are multiple reports that Charter is formulating a plan to bid on TWC, and if accepted, it would... Read more...
Had things gone to plan, Comcast would be celebrating the thumbs up by the Federal Communications Commission to proceed with its proposed $45 billion acquisition of Time Warner Cable (TWC). But it didn't go down that way. The merger received intense criticism and opposition from the get-go, and instead of giving Comcast the go ahead, the FCC said the matter had to be settled in court. That prompted Comcast and TWC to throw in the towel and count their losses, all 32 million+ of them. Yes, the telecoms reportedly spent over $32 million lobbying Washington in hopes of approving the merger. And had... Read more...
As we originally posted yesterday, Comcast today confirmed that it has abandoned its bid to acquire rival Time Warner Cable for $45 billion. The deal, which was originally announced in February 2014, was questionable at best, but came under more scrutiny in recent weeks. The company issued a brief statement this morning indicating that the merger has been terminated. "Today, we move on. Of course, we would have liked to bring our great products to new cities, but we structured this deal so that if the government didn’t agree, we could walk away,” said Comcast CEO Brian Roberts.  “Comcast NBCUniversal... Read more...
From the moment the proposed $45 billion Comcast-Time Warner Cable (TWC) merger was announced over a year ago, many consumers were understandably worried about what that would mean for competition in the broadband and TV markets, not mention how it would affect their bills each month. Add that in with the fact that both companies have customer service rating that rank near the bottom and that Comcast is a two-time winner of The Consumerist’s “Worst Company in America” award, it shouldn’t come as a surprise that many have been skeptical of the deal actually passing muster with regulators. Thankfully,... Read more...
If Comcast and Time Warner Cable have a Plan B, they may want to consider implementing it. Just as was expected would happen, the Federal Communication Commission's staff reportedly recommended what's called a "hearing designation order" to determine if the proposed $42.5 billion Comcast-TWC merger is within the best interest of consumers.A hearing designation order is an undesirable procedural move in which an administrative law judge would ultimately decide on the fate of the proposed merger. And while the FCC hasn't come right out and said it opposed the deal, this can be viewed as a strong... Read more...
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