In what would be a major merger in the cable industry and just weeks after the collapse of the Comcast bid, Charter Communications is reportedly close to a deal to buy Time Warner Cable—our parent company.
According to multiple reports, Charter is negotiating a purchase of the company and the roughly $55 billion deal could be announced following the Memorial Day holiday.
Time Warner Cable is the second largest cable provider. Charter is the fourth. Bright House Networks, a smaller cable company, would also be combined in the new Charter-Time Warner Cable.
The company had long been in negotiations with Comcast, but that deal fell through last month because of regulatory concerns in Washington.
Time Warner Cable is declining to comment on the report.
We are waiting for a comment from Charter.