As expected, more than 99% of Comcast shareholders have signed off on the company’s proposal to merge with Time Warner Cable. The vote came today during a special shareholder meeting in Philadelphia. The family of chairman and CEO Brian Roberts controls more than a third of Comcast’s voting shares, so the real news would have been if the deal had not been signed off on. The official proposal sees Comcast issuing 2.875 shares of Class A common stock for every one share of Time Warner Cable common stock.
Time Warner Cable shareholders are set to vote on the merger tomorrow, and pending regulatory OKs the deal is expected to close early next year.