Charter Communications, Time Warner Cable Reach Merger Deal
Time Warner Cable and Charter Communications announced Tuesday that they had reached a merger deal.
If the deal is completed, the new company would become a major rival to Comcast Corp. As we reported, Comcast and Charter had already made earlier bids to buy Time Warner, but Charter was outbid by Comcast and the Comcast deal fell apart after the Justice Department and the Federal Communications Commission raised concerns that it would lead to an anti-competitive environment.
According to The Wall Street Journal's math, this deal is valued at $55 billion and it gives cable mogul John Malone "the prize he has been chasing for two years."
The Journal reports:
Copyright 2015 NPR. To see more, visit http://www.npr.org/.