Posted 05/26/2015 at 9:03 AM
Posted 2 years ago
It appears that Time Warner Cable not only has a new suitor, but that a deal for acquisition could be finalized sooner than expected.
A recent confidential report has stated that Charter Communications Inc. is set to acquire the broadband cable company and that announcements to that effect will be made public on Tuesday.
The deal will take place not too long after a failed merger attempt by Comcast which raised considerable ire among the public and regulators, concerned about the problems a massive company of that nature would present to competitors.
Charter Communications was the first to approach Time Warner about a merger, but were snubbed for the failed Comcast deal.
The transaction would cost Charter $55 billion.
The initial reaction contains less opposition than the possible Comcast deal, but industry watchdogs do feel that the concerns over customer service along with better broadband pricing for customers should be a main priority.
Representatives for both Time Warner Inc. and Charter Communications Inc. opted to not make any comments when contacted about the pending deal.