Shareholders to Vote on Comcast-TWC Merger
Time Warner Cable shareholders will also vote on "golden parachutes" for execs
Shareholders of Comcast and Time Warner Cable are set to vote on the proposed merger of the two companies on Oct. 8-9.
An S.E.C. filing shows Comcast shareholders will vote at 9:30 a.m. on Oct. 8 at Philadelphia's The Kimmel Center for the Performing Arts, while Time Warner shareholders will vote the following day at 10:00 a.m. in New York's Bennack Theater at the Paley Center for Media.
Both companies are asking their shareholders to vote yes.
Time Warner Cable shareholders will also be voting on a potential "golden parachute" for the company's top executives. Capital New York, which first reported the news, notes that CEO Rob Marcus could see an $80 windfall under the deal.
The deal is expected to pass the shareholder votes, but then would still face scrutiny from the F.C.C. and Department of Justice.
Comcast's $45 billion deal to acquire Time Warner Cable was revealed in February.