- Charter (CHTR) will acquire 1.4M existing Time Warner Cable (TWC) customers, giving it 5.7M in total and making it the second-largest cable operator in the U.S.
- Charter and Comcast (CMCSA) will also each transfer approximately 1.6M subs respectively.
- Charter will acquire 33% in a new publicly-traded cable provider that Comcast will spin off to its shareholders and that will serve 2.5M customers. Charter will pay for the stake by issuing new stock to Comcast shareholders.
- After all the deals are finalized, Charter's managed residential subscribers will be below 30% of the U.S.'s total MVPD (multichannel video programming) subscribers.
- The value of the Comcast-Charter transactions wasn't provided, but the FT put a figure of $20B when it published a mostly accurate report about them over the weekend, prior to an official announcement today. (PR)