Charter Communications confirms bid to buy Time Warner Cable for $78.7B
Charter Communications has confirmed it plans to acquire of Time Warner Cable, a deal that if approved would create the second-biggest cable operator in the U.S.Cable operators are under pressure from a new generation of companies such as Netflix that offer competing video services, and Charter is hoping scale will help it compete more effectively. It values the deal at $78.7 billion including assumed debt.MORE M&A: 2015 Enterprise networking & IT M&A trackerCharter 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 only to Comcast. The combined entity would serve 23.9 million customers in 41 states.To read this article in full or to leave a comment, please click here