Charter to buy Time Warner Cable for $55 billion, $10B more than Comcast offered
Posted by: Timothy Tibbetts on 05/26/2015 06:14 AM
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Charter Communications will spend $55.33 billion to acquire Time Warner Cable in a cash-and-stock deal that would instantly create one of the largest TV and Internet providers in the U.S.
The deal comes a month after Comcast walked away from a $45 billion bid for Time Warner Cable after intense pressure from regulators.
The bigger Charter will have nearly 24 million customers, compared with Comcast's 27.2 million. Charter on Tuesday also said it would buy Bright House Networks, a smaller cable provider, for $10.4 billion as part of the deal.
Source Syracuse
The deal comes a month after Comcast walked away from a $45 billion bid for Time Warner Cable after intense pressure from regulators.
The bigger Charter will have nearly 24 million customers, compared with Comcast's 27.2 million. Charter on Tuesday also said it would buy Bright House Networks, a smaller cable provider, for $10.4 billion as part of the deal.
Source Syracuse
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