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Charter Communications is near an agreement to buy Time Warner Cable

Taylor LorenzMay 25, 2015, 21:12 IST

Charter Communications is close to an agreement to buy Time Warner Cable for $195 a share in cash and stock, Bloomberg News reports.

According to those familiar with the deal, Charter could announce the acquisition as soon as tomorrow.

Charter is currently the third largest cable operator in the U.S..

According to the Finacial Times, "Charter will also complete a deal with Bright House, another US cable company, combining the groups into an entity that will challenge Comcast, the largest US cable company that was thwarted by regulators in its own bid for TWC."

Time Warner Cable is currently valued at $48.4 billion.

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