Menu
Charter reportedly close to US$55 billion deal for Time Warner Cable

Charter reportedly close to US$55 billion deal for Time Warner Cable

The deal, in the wake of Comcast's failed bid, may be announced as early as Tuesday, according to reports

Charter Communications is said to be near a US$55 billion acquisition of Time Warner Cable, a deal that would create a broadband powerhouse in the U.S.

The deal could be announced as early as Tuesday, according to articles in the Wall Street Journal and Bloomberg, the first to report the story.

Charter also plans to acquire Bright House Networks, a smaller cable company. If successful, the deals would make Charter, currently the fourth biggest cable company in the U.S., second to only Comcast.

This is Charter's second attempt to buy Time Warner Cable. After its first offer was rejected, Comcast in 2014 made its own bid. That deal, however, fell apart in April after the Federal Communications Commission referred the proposed acquisition to a hearing in front of a judge. The move effectively killed that plan because of the time and effort it would have taken.

The U.S. Department of Justice also had been reportedly leaning toward blocking the merger on antitrust grounds, should it have received FCC clearance.

Charter's new bid is higher than Comcast's proposed $45 billion deal. Charter is offering approximately $195 per share -- 14 percent above Time Warner Cable's closing price Friday, according to the reports, citing people familiar with the matter.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags broadbandMergers and acquisitionsbusiness issuestelecommunicationTime Warner CableCharter Communications

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments