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Thursday, January 21, 2021

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

Olawale Danielhttps://olawaledaniel.com/
Olawale Daniel is a business builder and psychologist, a network marketing professional, a world-class motivational speaker, a successful internet entrepreneur and a digital media strategist interested in all things mobile and digital — start-ups, media, branding. He started TechAtLast back in 2010 as a platform to quench his thirst for latest technologies. As a motivational speaker and author, Olawale has published several motivational and personal development books and he's currently working on "SUCCESS AHEAD - Don't Quit" which is billed to hit the stand by Q4 of the year. He writes regularly on his personal website on motivation and personal lifestyle and tips for network marketing success, OlawaleDaniel.com. His latest book on How to Sponsor More People in Your Network Marketing Business is still one of the best sellers in its category. He's presently working as a Health and Wellness consultant at BURN SLIM TRIM Inc., a firm that helps people regain their perfect lifestyle through state-of-the-art recent discoveries way back from nature. He's also the brain behind FOBCourse, a business university for startup entrepreneurs in Africa.

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9 COMMENTS

  1. 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.

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