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Charter reportedly close to buying Time Warner Cable in a $55 billion deal

Updated May 25th, 2015 11:48AM EDT

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Good news for Time Warner Cable shareholders — it looks like you’re about to get a better deal than the one Comcast was offering. Bloomberg reports that Charter is very close to announcing a deal to purchase Time Warner Cable for roughly $55 billion ($195 per share), a significant premium over the $45 billion deal that Comcast proposed to buy TWC last year. At the close of trading last week, TWC had a market cap of $48.5 billion.

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Although the federal government shot down the proposed Comcast-TWC merger earlier this year, a merger with Charter should be less of a problem. Whereas the Comcast-TWC merger would have combined the two largest cable providers in the U.S., a merger between TWC and Charter may not pose as much of a competitive threat.

Bloomberg’s sources say a deal between the two companies could be announced as soon as tomorrow.

Brad Reed
Brad Reed Staff Writer

Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.