Charter To Acquire Time Warner Cable For $55 Billion

Credit: B2B Media

After a recently failed sale of Time Warner Cable to Comcast, several other large players showed interest in acquiring the well-known service provider. One of these companies was Charter, a telecommunications company that supplies cable, phone, and Internet services to over 5.9 million customers in 29 states.

A press release went live on the Charter website this morning saying that the company would acquire and merge with TWC to a tune of $55 billion and then this new merged property would buyout competing service Bright House Networks for $10.4 billion. If everything goes according to plan, the resulting Charter/TWC/Brighthouse service will become the largest broadband and technology company serving 23.9 million customers in 41 states.

While negotiations have been agreed upon between these three companies, it is all now at the fate of the government (particularly the FCC) who has the final say as to whether to approve these acquisitions/mergers especially after they previously declining Comcast's intended buyout of TWC.

Via: Engadget
Source: Charter