Hedge Fund News From HedgeCo.Net

Charter Agrees to Buy Time Warner for $55 Billion

NBC – The broadband battle heated up on Tuesday when Charter Communications said it agreed to buy Time Warner Cable for $55 billion, in a deal that would combine the second- and third-largest U.S. cable providers and create a more formidable rival to Comcast.

Charter will pay $195 a share for Time Warner in a cash and stock deal. The transaction will include a $2 billion breakup fee. Charter also announced it would acquire Bright House Networks, the sixth largest U.S. cable company, for $10.4 billion. The combined companies could have as many as 23 million total customers, just behind Comcast’s 27.2 million customers.

Read Complete Article

This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply