Cable provider Comcast has started to seek legal advice regarding a possible merger with Timer Warner Cable (TWC). The news broke on Friday that the shrinking market of cable providers may be ahead of a big reshuffle as major providers seek to minimize their losses. Groundbreaking online streaming services, such as Netflix and Amazon have provided new alternatives for consumer entertainment, so conventional companies such as Comcast and TWC now all seek possible escape routes.
According to sources, Comcast, the parent company of networks such as NBC and CNBC, is yet to confirm or deny official interest in Time Warner Cable, but is indeed seeking legal advice on the matter of antitrust and other merger related issues. Sources also confirmed, that TWC execs are eager to join the Comcast family, and see the company is the best suitor. The talks may only be in a preliminary phase, but it is already clear that both parties are indeed interested by the idea.
Comcast however is not the only company assessing its options, as The Wall Street Journal confirmed that Charter Communications are also on the verge of bidding on Time Warner Cable. Sources confirmed that the deal may be in an advanced state, but analyst do warn that Comcast should be a better match for TWC when it comes to the matter of programs.
Spokesperson for Comcast and TWC both declined to comment on the matter, as market analyst and business execs all try to guess the next big move for the entertainment industry.