Charter and Comcast name spin-off firm
Charter Communications and Comcast’s joint spin-off company will be named GreatLand Connections.
The company will be an independent publicly traded company, and is expected to come into operation once Comcast completes its acquisition of Time Warner Cable (TWC).
GreatLand Connections is designed to represent the diversity of locations it will reach via the ownership and operation of former Comcast cable systems.
It is expected to serve approximately 2.5 million customers across the US midwest and south east and will be the fifth-largest cable provider in the nation, according to a statement.
GreatLand Connections – in which Charter will hold a 33% stake – was also created as part of Comcast’s strategy to win regulatory approval for its $45 billion acquisition of TWC.
Comcast’s proposed deal with TWC has come up against scrutiny from companies including Dish Network, which has urged the FCC to block the agreement on competition grounds.