Comcast announces merger with Time Warner Cable in $50B deal

Comcast, Time Warner and 21st Century Fox have reached a deal to buy a combined stake in NBCUniversal for $50 billion.

Comcast will become a publicly traded company and be led by CEO Brian Roberts.

The deal will be completed by March 2019.

Roberts will also become chairman and CEO of 21st.

The combined company will also acquire 21st Media, the media company founded by Roberts, according to the agreement. 

The deal, which will be announced Thursday, comes after Comcast and Time Warner said in December they would merge and buy 21st and Warner Cable.

It is the latest in a string of merger and acquisition deals for Comcast, which in January sold its NBCUniversal stake to Disney for $45 billion.

The Comcast-Time Warner deal was valued at $42.5 billion.

Roberts, whose net worth is $4.4 billion, is also chairman and chief executive of Charter Communications, which owns NBCUniversal, as well as NBCUniversal’s television service, NBCU, and a number of other businesses.

Roberts was a co-chair of Comcast’s board of directors from 2005 to 2009.

The company will remain headquartered in Stamford, Conn.

Roberts is one of the wealthiest people in America and has been for years, owning more than 3 million shares in Comcast.

He has not been paid a salary since 2015, according the New York Times.

Roberts said in a statement that the deal would “enhance the future of our companies.”

He added that the new company will continue to focus on the customer experience and bring the best technology, content and services to the marketplace.

“The combined companies will provide us with the best value for the money and we’re excited to build a world-class media company with the flexibility to adapt to changing times and markets,” he said.

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