So long Time Warner Cable, you're Charter now
Charter Communications says it's completed the acquisition of Time Warner cable, creating the second-largest cable operator in the US.
Clearing all regulatory political hurdles, Charter Communication on Wednesday said it's completed its acquisition of Time Warner Cable and smaller operator Bright House Cable, in a deal reportedly worth about $60 billion.
That means Charter now has some 24 million subscribers in 41 states, making it second-largest cable operator in the US, behind Comcast.
"With our larger reach, we will be able to accelerate the deployment of faster Internet speeds, state-of-the-art video experiences, and fully-featured voice products, at highly competitive prices," Charter CEO Tom Rutledge said in a press release. He also touted planned improvement to Wi-Fi networks in public places and the expansion optical networks to serve businesses.
The Federal Communications Commission gave the merger the green light earlier this month, imposing restrictions to help mitigate threats to online video competition.