Cable Media March 2014

news2_1 28/02/2014 12:56 Page 1 Volume 6 No. 1 2014 M&A fever returns to broadband MSOs ignificant M&A deals have taken place on both sides of the Atlantic with US cable MSO Comcast agreeing a $45.2 billion deal to merge with Time Warner Cable (TWC) and in Europe, Liberty Global is to acquire Dutch cable operator Ziggo in a stock and cash transaction valuing Ziggo at approximately €10 billion. Meanwhile, Spanish cable MSO ONO is pressing ahead with plans for an IPO despite reports of a €7 billion bid from mobile giant Vodafone. Comcast and TWC say the transaction will create a leading technology and innovation company, differentiated by its ability to deliver ground-breaking products on a superior network while leveraging a national platform to create operating efficiencies and economies of scale, suggesting that through the merger, more American consumers will benefit S from technological innovations, including a superior video experience, higher broadband speeds, and the fastest in-home Wi-Fi. Following the transaction, Comcast’s share of managed subscribers will remain below 30% of the total number of multichannel video programming distributor subscribers in the US. The agreement is subject to shareholder approval at both companies and regulatory review and other cus- tomary conditions and is expected to close by the end of 2014. The deal surprised the market and scuppered the planned bid for TWC by Charter which also had the backing of Liberty. The Senate Judiciary Committee is to hold a hearing to review the impact of the merger on American consumers. Chairman Patrick Leahy, a Democrat Senator from Vermont, said the merger touched on