There is news today in the cable TV industry in the US where market leader Comcast has agreed to buy Time Warner Cable (TWC) for a whopping $45 billion. The deal heads off a takeover bid of TWC by John Malone’s Charter Communications and creates an empire which USA Today reckons will include 68 million subscribing households across the nation with revenues of $88 billion. This is a blow for Malone, who wanted to take over TWC with Charter Communications, which has about six million subscribers and revenues of around $8 billion a year. Malone has been promoting market consolidation for some time but this is not what he was hoping for. It remains to be seen whether this will increase or decrease his interest in the Formula One group, which he sees as a valuable content provider for his global TV networks.
As one can see from the numbers involved these companies are large enough to snap up the F1 business without too much trouble.
It is also worth noting that Comcast also owns NBCUniversal, which broadcasts F1 in the United States, so the new deal should increase the number of F1 viewers in the US.