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

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.

Prior to joining BGR as News Editor, Brad Reed spent five years covering the wireless industry for Network World. His first smartphone was a BlackBerry but he has since become a loyal Android user.