Bloomberg exclusive: Charter & Comcast discussing joint bid for Time Warner Cable -- would break up assets. Story coming.
— Alex Sherman (@sherman4949) November 22, 2013
A new report from Bloomberg indicates a massive media takeover may be in the works. The article, quoting a source in the know, says the Comcast and Charter Communications are planning a joint bid for Time Warner Cable and planning to divide the TV giants assets.
This is a breaking story so please stay tuned for updates.
Here's what we know so far:
1. A Takeover Would Be Easier if the Company's Team Up
A joint venture between Comcast and Charter would apparently be easier than either company going after Time Warner on their own, according to Bloomberg. This is because breaking the company up is easier, legal eagle wise, than simply acquiring it.
2. There Are No Active Discussions
Comcast and Charter are both keeping schtum about the report. According to CNBC, the sides are not in active discussions right now.
3. Comcast May Have Had Second Thoughts About Going it Along
Earlier reports by Bloomberg had indicated that Comcast were going to go for Time Warner themselves. The company already have their feet wet in the cable market as Comcast are the parent company of NBC.
4. This is Will Be a Massive Takeover
Time Warner should cost around $61 billion should any takeover come to fruition.
5. 2 of the CEOs Involved Are Tight
Rob Marcus, who is due to become Time Warner CEO in 2014, is a friend of Comcast CEO Brian Roberts.