Comcast to Buy Time Warner Cable

Comcast has agreed to acquire Time Warner Cable in all-stock transaction worth roughly $159 a share, the companies announced Thursday.

The new company created by the approximately $45 billion purchase would be by far the largest cable provider in the nation with over 33 million subscribers. The deal is likely to face a tough antitrust review from regulators. It would need to be approved by the Federal Communications Commission and by the Justice Department.

Comcast Chairman and CEO Brian Roberts told CNBC he's confident the deal would be approved, adding the companies wouldn't have agreed to the deal otherwise. Roberts called the deal "pro-competitive" and "pro-consumer."

"We’re going to be able to bring better products, faster internet, more channels, on demand, TV everywhere, and a national local platform that’s really special,” Roberts said.

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