Charter Nears Deal for Time Warner Cable

Charter TWC_-265323663149087072
Charter Communications is expected to announce a proposal to buy Time Warner Cable in the coming days.

The price tag: $55 billion.

Charter would also buy a smaller provider Bright House Networks.

The deal would advance a growing trend of consolidation in the media industry. Charter is the nation’s third largest cable television provider, and Time Warner, the second largest.

A merger would give the three companies 18.8 million broadband subscribers and about 17 million cable subscribers.

Federal regulators would have to approve the merger, and there’s no guarantee that will happen.

Comcast recently pulled their offer to buy Time Warner Cable in April after regulators stymied the deal amid concerns that it would be anti-competitive.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.