Comcast has agreed to buy Time Warner Cable for more than $45 billion in stock, a deal that would combine the two largest cable providers in the country, according to people familiar with the matter.

The combined company would be a communications juggernaut with far greater influence than any of its peers. It would not only control the “last mile” connections that pump cable and internet services into homes and businesses, but also a huge swath of the content that travel through those pipes since Comcast already owns the entertainment empire of NBC Universal.

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