Second, I think this is a bad move for Comcast. The content DELIVERY business is not a growth industry. That's why I thought it was so smart for Comcast to buy NBC/Universal because the content OWNER business is a better business to be in. I could think of LOTS of things that would be a better investment of $45 BILLION dollars than Time Warner Cable (and NO, I'm not talking about investment in their theme parks).
The best analysis I've read on this deal (from multiple sources, so no links), is that this deal is all about creating a company big enough to exercise more clout in negotiating retransmission deals with non-Comcast properties (that'd be Disney, CBS, Fox, and Discovery properties, mostly). Comcast wants to control enough of the market that content providers can't afford to get to the point in negotiations where their channel is off the system and running those "call your cable provider to get [channel X] back on!" radio commercials.