Charter Communications will buy Time Warner Cable, in a $56.7 billion deal that, if approved, would help make Charter the nation's second-largest cable firm, the companies said today.
Charter offered to pay $195.71 per Time Warner share in a cash and stock deal, paying Time Warner shareholders about 14 percent more than list price.
Charter also said Tuesday that it is still trying to buy Bright House Networks, for $10.4 billion.
If it completes both acquisitions, Charter will have about 24 million subscribers, second only to Comcast's 27 million in the United States.
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