With an aggressive Charter Communications takeover looming over Time Warner Cable, Comcast executives felt like they had only one chance if they wanted to buy the LA and NYC systems they didn’t already own, Comcast CEO Brian Roberts said at this morning’s Code Conference in Rancho Palos Verdes, CA. “Our judgment was the company was going to be sold and if we wanted New York and Los Angeles, it was now or never,” Roberts said. The company was trying to move beyond a persistent perception of it as a “regional cable provider” that hampered deals with potential partners such as Reed Hastings of Netflix in years past. Even with the big 2010 acquisition of NBCUniversal still being digested, the company needed to move fast with its $45.2 billion offer for TWC, which is still under regulatory review. Comcast also signed a $20 billion side deal to sell or swap out 3.9 million of the subscribers with Charter to further concentrate operations in big cities and keep below a self-imposed limit of 30 percent of the U.S. cable TV market. That deal is contingent on the main acquisition going through.
This article was printed from https://deadline.com/2014/05/comcast-brian-roberts-now-or-never-on-time-warner-cable-deal-736831/