Comcast Shareholders Approve Time Warner Cable Deal

AP Photo/Jacquelyn Martin

The cable giant held a shareholder meeting in Philly on Wednesday

Comcast shareholders on Wednesday approved the planned $45 billion acquisition of Time Warner Cable

The cable giant, led by chairman and CEO Brian Roberts, held a special shareholder meeting on the deal in Philadelphia, where its headquarters is located, on Wednesday. Afterward, it issued a statement saying that more than 99 percent of Comcast shareholders voting supported Comcast's proposal to issue stock in the proposed TW Cable deal.

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Roberts has said he was "cautiously optimistic" that regulators would allow the acquisition of the second-largest U.S. cable operator by the largest cable company.

TW Cable shareholders will vote on the deal at a meeting in New York on Thursday. Comcast on Wednesday said that subject to TW Cable shareholder approval and regulatory approvals, the deal is expected to close in early 2015.

Email: Georg.Szalai@THR.com
Twitter: @georgszalai

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