ESPN: Comcast-SpectaCable is done, with Comcast-TV, Time Warner, and other cable operators taking a 30% cut in 2019.
The deal, the latest in a series of consolidation efforts by the three companies, came as Comcast and TimeWarner pushed to buy NBCUniversal.
Comcast said the deal will provide additional investment in U.S. television, and will help the combined company’s overall TV revenues grow to $1.5 trillion in 2019, up from $1 trillion in 2018.
The Comcast-TimeWarner deal includes a number of key elements: Comcast will receive up to $4.5 billion in annual TV revenue from NBCUniversal, Comcast said.
Comcast will get a 20% share of the total cost of operating NBCUniversal Studios and NBCUniversal’s television division, which includes the NBCUniversal TV and Universal Studios brands.
Comcast also will get up to 75% of the revenue from the Comcast SportsNet and NBC Sports Live Extra channels.
Comcast has previously invested in NBC Sports, NBCUniversal and NBC Universal TV and has also invested in DirecTV Now.
The combined company will pay Comcast $4 billion a year for each of the next five years, Comcast CEO Brian Roberts said in a statement.
Comcast and NBC are the nation’s top three cable operators, according to the U.K.-based Communications Industry Regulatory Authority.
Comcast is the country’s largest cable provider, with 1.8 million subscribers.
Time Warner is the second-largest cable operator in the U