Charter Communications buying Time Warner Cable in deal valued at $55.33 billion

NEW YORK — Charter Communications will spend $55.33 billion to acquire Time Warner Cable in a cash-and-stock deal that would instantly create one of the largest pay-television and broadband operators in the U.S.

As part of the agreement, Charter will also buy Bright House Networks for more than $10 billion.

Charter will provide $100 in cash and shares of a new public parent company equal to 0.5409 shares of Charter for each outstanding Time Warner Cable Inc. share. The transaction values each Time Warner Cable share at about $195.71.

http://www.startribune.com/charter-buying-time-warner-cable-in-55-33b-deal/304974561/