Comcast to divest customers, assets to Charter

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In order to gain approval of its mammoth deal to acquire Time Warner Cable (NYSE: TWC), Comcast (NASDAQ: CMCSA) has reached a deal to divest subscribers, consolidate regional operating areas and create a new publicly traded company, SpinCo, in cooperation with Charter (NASDAQ: CHTR), according to a FierceCable report. This deal is significant to the overall cable industry because upon completion Charter will become the nation's second largest cable operator, with 5.7 million video customers of its own and 8.2 million customers when it adds the SpinCo assets to its fold. Read more