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BREAKING: Comcast Purchasing Time Warner Cable for $44 billion

Comcast (NASDAQ: CMCSA) announced Wednesday that it will purchase Time Warner Cable (NYSE: TWC) for about $159 per share for a total price of $44 billion. The deal would create the largest cable company in the country with more than 33 million subscribers.

According to Reuters, Comcast will agree to divest 3 million subscribers in a deal that will be officially announced sometime this morning. Industry experts fear that the FCC and other federal regulators may take issue with the formation of such a large company.

Charter Communications earlier offered $133 per share but was outbid by Comcast.

Disclosure: At the time of this writing, Tim Parker had no position in the companies mentioned.

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