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  • Charter Communications Confirms Merger with Time Warner Cable

    On Tuesday morning, Charter Communications confirmed the worst kept secret in business news this week.

    Charter has reached a deal to acquire Time Warner Cable for $55.33 billion.

    As if one deal isn't enough for this news cycle, Charter and Advance/Newhouse Partnership (a parent of Bright House Networks, LLC) also announced today that the two companies have amended their previous agreement to enable Charter to acquire Bright House Networks for $10.4 billion.

    In a statement to the press, it is noted that the combination of Charter, Time Warner Cable and Bright House will create a "leading broadband services and technology company" that will serve 23.9 million customers in 41 states.

    "With today's announcement, we have delivered on our commitment to maximizing shareholder value," said Robert D. Marcus, Chairman and CEO of Time Warner Cable. "This agreement recognizes the unique value of Time Warner Cable, and brings together three great companies that share a common philosophy of strong operations, great products, robust network investment and putting customers first."

    To read the entire press release from Charter Communications, click here.

    Source: Charter Communications
    This article was originally published in forum thread: Charter Communications Confirms Merger with Time Warner Cable started by Michael Essany View original post
    Comments 2 Comments
    1. jsuddu0109's Avatar
      jsuddu0109 -
    1. SpiderManAPV's Avatar
      SpiderManAPV -
      Iím not under either of them, but the last thing the ISP business needs is less competition.