Comcast Confirms $45 Billion Deal With Time Warner Cable

LOS ANGELES (AP) — Comcast Corp. has confirmed that it agreed to buy Time Warner Cable Inc. for about $45.2 billion in stock, or $158.82 per share, in a deal that would combine the nation's top two cable TV companies.

The deal will make Comcast, which also owns NBCUniversal, a dominant force in both creating and delivering entertainment to U.S. homes.

The deal was approved by the boards of both companies and, pending regulatory approval, is expected to close by the end of the year.

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