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Charter Reaches Deal To Buy Time Warner Cable

Charter Communications is reportedly close to buying Time Warner Cable.
Charter Communications is reportedly close to buying Time Warner Cable. Photo Credit: wikipedia

WESTCHESTER COUNTY, N.Y. -- Charter Communications Inc. has reached an agreement to purchase Time Warner Cable Inc., bloomberg.com is reporting.

The deal would be worth about $55 billion in cash and stock, according to bloomberg.com.

Charter is the fourth-largest cable company in the U.S.; Time Warner Cable is No. 2, bloomberg.com reported. Earlier this year, Comcast's bid to buy Time Warner fell apart.

Read the full story here .

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