Charter To Buy Time Warner Cable After Failed Comcast Deal
Charter has reportedly made a $55.1 billion deal for Time Warner Cable one month after Comcast walked away from its $45 billion bid.By Matt Picht | May 25, 2015
Well, that didn't take long. Just over one month after Time Warner Cable's planned merger with Comcast ran afoul of regulators, the cable company has made a deal with Charter Communications.
Bloomberg first reported Monday that Charter was planning to buy out Time Warner Cable for about $55.1 billion in cash and stock. The deal works out to about $195 a share or 14 percent above Time Warner's share price after close Friday.