Comcast has agreed to buy Time Warner Cable for $US45.2 billion ($A50.2 billion) in stock, or $US158.82 ($A176.44) per share, in a deal that would combine the United States' top two cable TV companies.
That's according to a person familiar with the matter who spoke on condition of anonymity because it had not been announced formally.
An announcement is set for Thursday (Friday AEDT), the person said.
The price is about 17 per cent above Time Warner Cable shares' closing price on Wednesday.
The deal trumps a proposal by Charter Communications Inc. to buy Time Warner for about $US38 billion ($A42.22 billion) in cash and stock worth $US132.50 ($A147.20) per share.
It comes just a day after Charter said it was preparing a proxy fight by nominating a full slate of directors to Time Warner Cable's board.
