Report: Charter may revive Time Warner Cable bid
Charter Communications (CHTR), the Connecticut-based cable company backed by John Malone’s Liberty Broadband, is thinking about picking up where Comcast (CMCSA) left off.
According to The Wall Street Journal, Charter is “laying the groundwork” for a bid to acquire rival Time Warner Cable (TWC).
Earlier today, Comcast and Time Warner “mutually” called off their proposed $45.2 billion merger, due to strong regulatory pushback. That decision also effectively killed off contingent agreements whereby Charter Communications would pay $10.4 billion to buy Bright House Communications, and even more to acquire 3.9 million Time Warner Cable subscribers.
Charter originally had offered to buy Time Warner Cable last January for $37.3 billion, before being trumped by the Comcast bid.