Comcast Internet and cable TV deal is worth $1.5B, worth $2.5 billion to Comcast shareholders

Comcast is set to close a $1 billion deal with Time Warner Cable for the acquisition of the nation’s second-largest internet service providers.

The deal, which is subject to regulatory approval, is expected to close on Tuesday, Comcast said in a statement.

The transaction would increase Comcast’s Internet revenue by about $1,600 million in the third quarter, Comcast chief executive Brian Roberts said in an earnings call with analysts.

Comcast’s stock fell $2 to $64.04 after the news was released.