NEW YORK (TheStreet) -- Comcast (CMCSA) will reportedly buy Time Warner Cable (TWC) for $45 billion in an all-stock deal. Although there have been concerns about regulatory approval, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, says the deal will get done.
The deal values shares of Time Warner Cable at roughly $158.82, which is a $23 premium to the previous closing price.
Cramer called shares of Time Warner Cable "a horrendous underperformer" because the company continues to lose market share as a result of more dissatisfied customers. He added that Comcast will be able reverse those effects and, as a result, the stock price will go up.
The only way the deal could be stopped is if broadcasters, who are hoping to continue getting big fees from more cable operators, put up a big fuss, he said.
However, he dismissed that notion, saying the broadcasters don't have enough push in Washington D.C..
-- Written by Bret Kenwell in Petoskey, Mich.