Comcast is announcing a $450 million deal to acquire AOL, AOL, HBO, Netflix and Comcast’s streaming services, the companies announced today.
The deal, which is subject to regulatory approval, will give Comcast a combined cable and broadcast TV, Internet and phone service that Comcast calls its “First Stream” offering.
It will also allow Comcast to sell off some of its TV properties, including NBCUniversal, the cable network that NBCUniversal acquired in 2013.
It will also provide Comcast with new streaming video services for Comcast subscribers.
The combined Comcast-AOL would be Comcast’s fourth-largest acquisition.AOL, which was acquired by Verizon in 2007 for $7.4 billion, has been the leader in online video content.
Comcast’s deal with AOL will allow it to provide additional online video and video-on-demand services, Comcast said.
The two companies have been developing a strategy that combines Comcast’s TV services with the online services of its broadband Internet and wireless broadband services, according to a statement.
The two companies are “committed to bringing the world’s largest Internet and television networks and services together,” Comcast said in the statement.
Comcast’s First Stream deal is subject the approval of the Federal Communications Commission, which has not yet approved the merger, and antitrust regulators in the U.S. and Europe.
The merger would be the second of Comcast’s acquisitions this year.