Updated: 02/13/2014 3:47 PM
Created: 02/12/2014 11:41 PM WHEC.com
By: Associated Press
Comcast Corp. has confirmed that it plans to buy Time Warner Cable for about $45.2 billion in stock in a deal that would combine the nation's top two cable TV companies.
The deal amounts to $158.82 per share, which is about 17-percent above the Wednesday closing price of Time Warner Cable Inc. shares.
The deal trumps a proposal by Charter Communications Inc. to buy Time Warner for about $38 billion in cash and stock worth $132.50 per share and comes just a day after Charter said it was preparing a proxy fight by nominating a full slate of directors to Time Warner Cable's board.
Time Warner responds to customers' questions?
1. What impact will this possible merger have on Time Warner Customers here in Rochester, NY and Western New York?
It will take months to complete this transaction. In the meantime, we'll continue to focus on serving our customers. More consumers will benefit from the innovation of the combined company --- faster Internet, more TV Everywhere, the fastest home WiFi and Comcast's comprehensive video experience.
2. How many Time Warner subscribers are in Rochester, NY, Buffalo, NY, Syracuse, NY and Albany, NY?
We have approximately 1.5 million customers across upstate NY.
3. Will the local call center here in Rochester, NY stay open? How many Time Warner employees are in Rochester, NY and at the call center?
We're continuing with our plans to operate locally without any changes at this time. We have approximately 850 employees total in Rochester.
4. What impact will there be on Time Warner Cable News in Rochester, NY and across New York State? How many Time Warner Cable News employees are in Rochester, NY?
There won't be any near-term changes to the station or our operations, and through the course of the merger this year, we will communicate what changes our customers will see. We have approximately 850 employees total in Rochester.