Charter Communications Set to Buy Bright House Networks
According to the New York Times on Tuesday, Charter Communications said it agreed to acquire Bright House Networks for $10.4 billion.
Charter already happens to be involved in a huge merger of Comcast and Time Warner Cable, in that they’ll be acquiring some markets and subscribers from Comcast.
Interestingly, Charter’s acquisition of Bright House is dependent on the approval of Comcast’s purchase of Time Warner Cable.
“Bright House Networks provides Charter with important operating, financial and tax benefits, as well as strategic flexibility,” said Thomas M. Rutledge, Charterâ€™s chief executive. “Bright House has built outstanding cable systems in attractive markets that are either complete, or contiguous with the New Charter footprint. This acquisition enhances our scale, and solidifies New Charter as the second largest cable operator in the U.S.”
Bright House Networks has two million subscribers across five states, including Florida, Alabama, Indiana, Michigan and California. Itâ€™s currently the sixth-biggest Cable TV provider in the country.
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