Time Warner Cable is selling its cable-streaming business for $2 billion
Posted On July 19, 2021
Time Warner said on Tuesday that it has sold its cable streaming business to Comcast for $1.5 billion.
The transaction is subject to regulatory approval and could close by the end of the year.
The sale will include the cable-broadcasting and pay-TV businesses, the company said.
Comcast and Time Warner were previously under investigation for alleged antitrust violations in the past.
The deal was first reported by The Wall Street Journal.
Comcast is the largest cable company in the United States.
Its broadband services include the popular Xfinity TV service and NBCUniversal’s Xfce.
Time Warner’s internet business includes HBO, CNN and Warner Bros.’
The Time Warner deal comes after Comcast bought NBCUniversal in a $45 billion deal last year.