Memorial Day barbeques across the telecom industry were interrupted Monday by a flurry of breaking news alerts announcing Charter Communications is close to a deal to acquire Time Warner Cable for $55 billion.

A deal could be announced as soon as Tuesday, according to several reports.

Charter is also close to a second deal for Bright House Networks.

The news of a Charter-Time Warner Cable tie-up comes almost a month to the day after Comcast officially ended its bid to take over the cable giant. Almost every industry observer expected Charter to make another run at TWC after the Comcast deal collapsed. A 2014 offer from Charter to buy the company was rebuffed ahead of the Comcast proposal.

News of the fresh Charter agreement was first reported by Bloomberg.

The deal would combine the nation’s No. 4 and No. 2 cable companies, with smaller Charter swallowing it’s larger rival. An agreement to buy Bright House would also add the No. 6 player to the resulting company, which would be newly competitive against Comcast, the industry’s largest player.

Charter would pay $195 per share in a cash and stock deal, a nearly 14 percent premium over the Comcast offer.

Read More: Bloomberg

Brief Take: Well, that was fast. Increased consolidation spells trouble for content companies, who will see pay-TV providers flex larger muscles to keep prices down for consumers and for themselves.

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