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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.

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.