Comcast To Sell Off Many Indiana Cable Systems
April 28, 2014 — Indianapolis Business Journal — Comcast is reportedly getting out of the cable t-v provider business in most of Indiana, if the company receives regulatory approval for a new plan to ease the regulatory process for its merger with Time Warner Cable.
Connecticut-based Charter Communications said Monday that it reached an agreement to take control of 3.9 million of Comcast’s customers. Charter said it will buy 1.4 million Time Warner Cable customers for $7.3 billion after the merger of Comcast and Time Warner Cable closes. Charter will also form a holding company to acquire a 33-percent stake in a spinoff from Comcast. SpinCo, as it’ll be called, will take over 2.5 million Comcast cable customers in Indiana, covering most of the northern part of the state. A map showing the Charter acquisitions across the country does not include Comcast in northwest Indiana.
The agreement marks the end of weeks of discussions between Charter and Comcast and puts them both on a path to reaching more subscribers after the traditional U.S. pay-TV market lost customers for the first time last year.