Comcast Spinoff in Charter Deal Named GreatLand ConnectionsCrayton Harrison
Comcast Corp.’s spinoff of some of its cable business, part of a deal with Charter Communications Inc., will be called GreatLand Connections Inc.
The name represents the diverse locations served by the company, which will have 2.5 million customers across the Midwest and Southeast, Comcast and Charter said today in a statement.
Charter will hold a 33 percent stake in the new company, which is being created to help ease the path for regulatory approval of Comcast’s acquisition of Time Warner Cable Inc. Michael Willner, co-founder of cable provider Insight Communications Inc., was named in May to lead GreatLand.
The new company is expected to be the fifth-largest cable provider in the nation, according to today’s statement. As part of the agreement with Comcast, Charter is also buying 1.4 million Time Warner Cable customers for $7.3 billion. Comcast announced its $45 billion acquisition of Time Warner Cable in February.
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