99% of Comcast, TWC shareholders approve merger

10 Oct 2014

Comcast investors have overwhelmingly approved the cable giant’s proposed USD45.2 billion merger with rival operator Time Warner Cable (TWC), it has been announced. Comcast has revealed that more than 99% of its shareholders supported its proposal to issue 2.875 shares of Comcast Class A common stock for every one share of TWC common stock. Further, following a second meeting – held the next day – TWC announced that its stockholders had also approved the merger with Comcast, again with 99% of the votes cast in favour of the deal.

Rob Marcus, TWC chairman and CEO, commented: ‘Today’s Time Warner Cable stockholder approval comes on the heels of Comcast shareholder approval yesterday and is an important milestone as we work towards completing our merger.’

United States, Comcast Corp (Xfinity, incl. Xfinity Mobile), Time Warner Cable (Spectrum)