Charter Nears Deal to Buy Time Warner Cable for $55.1 Billion
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Customers wait to be assisted at the Time Warner Cable Inc. store in New York. Photographer: Michael Nagle/Bloomberg
Charter Communications Inc. is near an agreement to buy Time Warner Cable Inc. for about $55.1 billion in cash and stock, shaking up the U.S. cable-TV and Internet markets, according to people familiar with the matter.
Charter will pay about $195 a share — 14 percent above Time Warner Cable’s closing price on May 22 — with $100 in cash and the rest in its own stock, said the people, who asked not to be identified because the talks are confidential. The deal could be announced as soon as Tuesday, they said. Bright House Networks, a smaller cable company that Charter is trying to buy, will also be merged into the combined entity, they said…
Charter Nears Deal to Buy Time Warner Cable for $55.1 Billion
