CNBC’s David Faber was first with the news last night that his network’s parent company Comcast, was acquiring Time Warner Cable, (which was once part of Time Warner and its portfolio of networks including CNN and HLN.)
This morning, Faber was also first with an interview with Comcast CEO Brian Roberts, who says the $45.2 billion deal “is pro-competitive and pro-consumer,” and will provide “better products, faster Internet, more channels, in a national-local platform that’s really special.” (Video after the jump)
Roberts says because the second largest pay TV service, satellite service DirecTV, is already national, he’s convinced a combined Comcast and TWC should pass muster with regulators. “Cable is this older system that is very local,” he tells Faber.
While adding the lucrative home and business markets of New York City, Los Angeles and Dallas, Comcast says it will divest some systems and shed about 3 million subscribers, bringing the combined total to around 30 million. They hope to close the deal by the end of the year.
In December, Time Warner Cable and Comcast were in a dust-up as the Time Warner system in Massachusetts, Maine and New Hampshire announced plans to drop the Comcast-owned NECN cable network, only to reverse course 10 days later.