CNBC reporter David Faber reports that Time Warner Cable will be purchased by Comcast for over $40 billion. According to multiple sources, the top TV cable provider in the U.S. will make an all-stock deal worth $159 per share.
The agreement will have to pass through regulatory approval by the FCC before any such deal can happen. Comcast is willing to lose about 3 million subscribers to make the deal go through.
The deal comes at a time that may put the most recent Apple TV rumour at stake, or at least have the potential to delay any such deals with Apple.