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Meet the new boss. Same as the old boss.
The newly formed cable company that is set to be created from parts of Comcast as it seeks federal approval for its merger with Time Warner Cable will be known as GreatLand Connections Inc. The company is a result of three transactions designed to keep Comcast’s cable market share below 30 percent of the U.S. market.
The planned divestures, which have been valued at around $20 billion, call for Comcast to sell 1.4 million subscribers to Charter directly, and to create a spinoff corporation to serve 2.5 million customers that will also be owned in part by Charter. And now that spin off has a name — GreatLand Connections.
The company, which would be formed if the Comcast and Time Warner Cable deal goes through, is a result of combining Comcast’s Midwest and Southeast territories, and would be the fifth largest cable company in the U.S. with 2.5 million subscribers if the deal goes through. And my hunch is based on Charter and Comcast’s propensity to cap broadband, those lucky subscribers will also have a broadband data cap.