Comcast to acquire TechTV

Comcast on Thursday said it agreed to acquire cable channel TechTV, owned by Paul Allen's Vulcan, and merge it with its own G4 video game network.

The acquisition will enable Comcast, the nation's largest cable network, to expand its technology and gaming channel to 44 million cable and satellite homes. G4 CEO Charles Hirschhorn will become head of the combined company. Financial terms of the deal were not disclosed.

Comcast sank millions into launching G4 in 2002, in an effort to tap into the $11 billion video game market. While Comcast has made a name for itself in TV services, it also owns majority stakes in programming stations such as The Golf Channel, Outdoor Life Network and E! Entertainment Television.

News source: C|Net News.com

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