Sources tell NY1 that Comcast and Time Warner Cable have agreed to a merger.
The all-stock deal is expected to be announced Thursday morning.
The deal is valued at nearly $159 per Time Warner Cable share.
It's a stunning move that brings together the country's two largest cable operators.
Left out in the cold is Charter Communications, which just last month had offered to acquire Time Warner Cable for $132.50 per share.
Also part of the deal, Time Warner Cable shareholders will own approximately 23 percent of Comcast common stock.
So far, there's been no comment from Time Warner Cable and Comcast.
Time Warner Cable is the parent company of NY1.