After months of rumors and a public battle with Charter Communications, CNBC reporter David Faber reports that Time Warner Cable will be acquired by Comcast tomorrow. According to sources, the number one cable TV (and internet) provider in the US will make an all-stock deal worth $159 per share to gobble up the number two provider. Of course, any such agreement would be subject to regulatory approval from the FCC, however Faber indicates Comcast is willing to ditch about 3 million subscribers to make the deal go through. Previous rumors suggested Comcast might split TWC with Charter, but that doesn't appear to be on the table even after Charter proposed a new board of directors for TWC to get its deal done. Another rumor this might put a stake in is today's curiously-timed Apple TV leak, although we'll wait for an official announcement of some kind to judge that.
Comcast to buy Time Warner Cable in all stock deal worth $159 per $TWC share- sources. Deal set for tomorrow morning. Ratio is 2.875 $CMCSA.- DAVID FABER (@davidfaber) February 13, 2014