Charter Communications agreed on Tuesday to buy its much larger rival Time Warner Cable for $56.7 billion in a deal that would transform the company into one of America’s largest cable and broadband operators.
The announcement represents the latest in a flurry of takeovers in the sector as companies struggle to keep pace with changes in how Americans watch and pay for television. As customers increasingly stream videos through the Internet, cable providers have sought deals to gain scale and greater bargaining power with content providers.
Source: Charter Communications Agrees to Acquire Time Warner Cable – NYTimes.com