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A woman walks past the Time Warner Center near Columbus Circle in Manhattan, New York July 16,ADREES LATIF

Time Warner Cable said Thursday its shareholders approved its acquisition by Comcast Corp.., clearing another hurdle for the $45-billion deal.

In February, Comcast said it agreed to buy rival Time Warner in an all-stock deal. The deal will make Comcast, which also owns NBCUniversal, a dominant force in both creating and delivering entertainment to U.S. homes.

The news comes a day after Comcast shareholders approved the deal, which is still awaiting clearance from regulators.

The deal is expected to close by the end of the year.

Time Warner Cable has about 11.4 million high-speed data subscribers in 29 states nationwide.

New York-based Time Warner's shares fell $3.50, or 2.4 per cent, to $143.78 in midday trading. Comcast shares fell $1.15 to $53.62 amid a broad sell-off in stocks.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:00pm EDT.

SymbolName% changeLast
CCS-N
Century Communities Inc
+2.02%96.5
CCZ-N
Comcast Corp
+0.46%56.2
CMCSA-Q
Comcast Corp A
+0.65%43.35
CSA-Q
Victory US Smallcap Vol Wtd ETF
+0.63%69.16
CW-N
Curtiss-Wright Corp
+0.93%255.94
S-N
Sentinelone Inc Cl A
+2.78%23.31
T-N
AT&T Inc
+0.28%17.6
T-T
Telus Corp
+0.37%21.67
TBB-N
AT&T Inc 5.350% Global Notes Due 2066
-2.65%23.5
TU-N
Telus Corp
+0.63%16.01
W-N
Wayfair Inc
+0.43%67.88

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