Charter Communications Nears $55 Billion Deal For Time Warner Cable - Sources

[Ron Burgundy]

Time Warner Cable Inc is nearing an agreement to be acquired by smaller peer Charter Communications Inc for about $55 billion, combining the second and third largest U.S. cable operators, people familiar with the matter said on Monday. A deal would create a major rival to Comcast Corp, the biggest operator in the U.S. cable and broadband market, and marks a triumph for Charter, which was rejected by Time Warner Cable just last year. The cash-and-stock deal values Time Warner Cable at $195 per share, according to sources, and comes just one month after Comcast dropped its $45.2 billion merger agreement with Time Warner Cable, clinched in February 2014, over antitrust concerns.

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