Time Warner Cable acquired by Charter Communications for $55b
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Time Warner Cable acquired by Charter Communications for over $55 billion


Time Warner cable acquired by Charter

US cable company Charter Communications has officially made a public announcement on Tuesday that it is acquiring Time Warner Cable with a much fancy offer than the failed attempt by Comcast a year ago. Last year, Comcast offered $45 billion (£29.22 billion) to buy off Time Warner Cable but the offer didn’t see the other end of the tunnel – it failed, until now that Charter Communications have gotten ahead in reaching a $55 billion agreement, equivalent to £35.71 billion, to take over the company, according to the lead we got from Bloomberg.

Comcast failed to nail the previous offer due to its inability to get regulatory authorization.

Time Warner cable deal
With the new agreement, Charter Communications has placed a value of $195.71 on each of Time Warner share — 14% higher than how much the company shared was priced at the closing of the market on Friday. The acquisition of Time Warner cable has up its worth to $78.7 billion (£51.10 billion). Embedded into the agreement is another cable company called Bright House Networks.

Charter Communications

According to the official announcement released by the Charter Communications today, it reads:

“The merger of Charter, Time Warner Cable and Bright House Networks will create a foremost broadband service and technology company providing services to more than 23.9 million customers in 41 states.”

The unification will make Charter Communications the second largest cable company in the US, offering its services to about 20 million cable and internet subscribers.

Source: BI

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9 comments
  1. Lalitha

    May 27, 2015 at 5:23 pm

    Thanks for the useful Information.

    Reply
  2. John Grudge

    May 27, 2015 at 9:53 pm

    Good news for Charter. I hope there broadband service will improve with this merger. I love Time Warner cable but it is time to move on.

    Reply
  3. RVB

    May 30, 2015 at 4:56 pm

    This is a very good news. Thank you for this article.

    Reply
  4. Abdullah

    June 1, 2015 at 4:21 am

    Thanks for this great news Daniel, Now Its time to move on and change the future for better.

    Reply
  5. James

    June 1, 2015 at 7:17 am

    Great Charters…Congratulations & all the best .

    Reply
  6. matematik özel ders

    June 1, 2015 at 11:10 am

    Thanks for sharing

    Reply
  7. Jerry

    June 2, 2015 at 10:39 am

    Great news for Charter family.

    Reply
  8. Satishw.R

    June 3, 2015 at 7:41 am

    very good news

    Reply
  9. Henry John

    June 3, 2015 at 8:45 am

    Wow! Good News, thanks buddy for sharing this.

    Reply

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