Charter Communications: Company Reportedly Nearing Deal to Acquire Time Warner Cable

Comcast’s decision to pull out of its proposed $45.2 billion takeover of Time Warner Cable has fueled speculation about the fate of the country’s second-largest cable company.

Time Warner Cable Inc. is in talks about a potential sale to either Altice SA or Charter Communications Inc., people with knowledge of the matter said.

Talks with both companies are expected to continue through the weekend, and an agreement with either suitor could be reached as soon as next week, said the people, who asked not to be identified discussing private information. The discussions may yet fall apart and there is no certainty a deal will be reached, the people said.

Time Warner Cable, which has a market value of about $48 billion, may fetch more than $54 billion in a sale, one of the people said. It would be a large acquisition for Altice, which has a market value of closer to $36 billion and also just struck a deal to buy a controlling stake in Suddenlink Communications, the seventh-largest cable operator in the U.S., in a deal valued at $9.1 billion.

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Michael Harvey

Michael Harvey has been a contributing writer and journalist for the Pluto Daily since January 2014.