Time Warner Cable (TWC) has leaped into the arms Charter Communications in a merger valued at $55 billion, confirming previous rumors. That's considerably more than the $45 billion Comcast proposed to pay for TWC in a controversial deal that was eventually called off. Charter said that the merger will "create a leading broadband services and technology company serving 23.9 million customers in 41 states." Time Warner Cable rejected a similar offer back in 2014, but Charter sweetened the deal considerably this time around. The deal values Time Warner Cable at $75.7 billion.
TWC is the nation's second largest cable operator after Comcast, while Charter Communications sits in fourth place. The terms of the deal mean that Charter would also absorb Bright House Networks, a smaller US operator. If the whole thing comes off, Charter would be the nation's second largest operator with 24 million customers, compared to 27 million for Comcast. However, the deal still needs to be approved by regulators, and the FCC was reportedly set to reject Comcast's acquisition of TWC over competition concerns.
Filed under: Internet
Source: Charter Communications
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