Short Take: Charter buys Greater Media systems

Charter Communications, the cable television company owned by Microsoft co-founder Paul Allen, has agreed to acquire certain cable systems from Greater Media for an undisclosed sum. The deal could be worth approximately $500 million, based on a rough average of about $3,000 per subscriber--an estimate that has risen due to recent industry acquisitions. Charter will add about 173,000 subscribers in 28 Massachusetts communities as part of the deal.