Charter to buy rival cable provider Bright House for $10.4 billion
As Comcast continues its attempt to purchase Time Warner Cable, another deal announced today would see the cable industry shrink even further. Charter Communications, the fourth-largest cable provider in the US, has agreed to purchase competitor Bright House Networks for $10.4 billion in cash and stock. Bright House is the sixth-largest US provider, but Charter says the merged company would become the second biggest cable operator by customer volume if the deal successfully closes.
Charter had once signaled an interest in scooping up Time Warner Cable before Comcast came in with its own offer, which federal regulators are continuing to review (and Charter stands to gain from). This transaction will also require regulatory and…
Source:: The Verge
