Entertainment

Charter Buys Time Warner Cable in $55B Deal

A Charter Communications van in Town and Country, Mo. (Jeff Roberson/AP Photo)
A Charter Communications van in Town and Country, Mo. (Jeff Roberson/AP Photo)

 

(USA Today) – Charter Communications said Tuesday that it is buying Time Warner Cable for $55.3 billion, forging ahead with its theory that broadening its presence nationally would provide the leverage it needs to fend off the challenges in the turbulent pay-TV industry.

Including Time Warner Cable’s debt that Charter will assume, the deal is valued at about $79 billion.

Controlled by billionaire industry legend John Malone, Charter is making its boldest move yet to pursue a company that is much larger in revenue and market share, merely weeks after Comcast failed in its bid to buy Time Warner Cable. Charter also sought to buy Time Warner Cable at a lower price last year, only to be outbid by Comcast.

Charter will pay $195.71 per share in the cash-and-stock deal — $100 of it in cash with the rest in Charter shares. The offer is based on Charter’s 60-trading day volume weighted average price. Charter also will provide Time Warner Cable shareholders an option to receive $115 in cash and shares of the new company.

READ MORE

Tags
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

Subscribe today for free and be the first to have news and information delivered directly to your inbox.


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker