Charter Communications announced that will acquire the media giant Time Warner
Cable.
The
agreement between the both companies is for $195 a share in a cash and stock
deal
worth $ 55.1 billion, reported “USA today”.
The new company, which also will include Bright House networks, will provide strengthened TV and Internet services for 23.9 million customers in 41
states.
This deal can
be described as very prosperous in perspective as the company acquire corporation with much
greater revenue and market share. Just
last week Comcast failed to buy Warner.
The preliminary
market shares of Charter increased by 4%, while Time Warner's by 11%.
The
current CEO of Charter Communications Tom Rutledge will be president of the new
company, which will be called New
Charter.
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