Comcast Cable announced a $10 billion bid for Time Warner’s cable wholesale business, which includes the vast majority of its U.S. homes, as part of its $45 billion acquisition of NBCUniversal.
The deal includes the NBCUniversal brand.
Comcast, which owns NBCUniversal and Time Warner cable, also owns Comcast SportsNet and NBCUniversal Studios.
The cable company has been trying to acquire Time Warner for years.
Comcast also is the cable operator for NBCUniversal’s cable channel, NBC’s TV studio and other NBC properties.
The combined company would be Comcast Cable Holdings, which also owns NBC Universal and Time Universal.
Comcast has been seeking to acquire a majority stake in Time Warner, which is in its fourth year of a deal with Comcast, and has raised an additional $15 billion through a Series C round led by Sequoia Capital.
Comcast said the combined company will be able to offer faster Internet and video services, and better competition, compared to its existing cable and satellite business.
It will be the first cable operator in the U.K. to be acquired by a cable operator, and the largest cable company in the United States.
Comcast will retain a minority stake in the merged company.
Comcast is also expected to increase its revenue by $9 billion in 2020.
The merger also could mean an increase in its share price, which has been rising since Comcast began investing heavily in cable in 2009.
Comcast chief executive Brian Roberts said the merger will boost its overall revenue by 25 percent to $45.6 billion.
Comcast’s $35 billion deal with Time Warner has been controversial.
Time Warner said it had been looking for a buyer for more than a year, and was now ready to close.
The two companies agreed to the deal because they wanted to increase competition and better service, Roberts said.
The agreement also allows Comcast to keep its majority stake, which could mean the merger would not need to go through a public offering.
Comcast and Time, which together account for about 40 percent of the U