Charter to buy Time Warner Cable in $55B deal

NEW YORK  — Charter Communicati🐻ons will spend $55.33 bil♔lion to acquire Time Warner Cable in a cash-and-stock deal that would instantly create one of the largest pay-television and broadband operators in the U.S.

As part of the agreement, Charter ཧwill also buy Bright House Networks for more than $10 billion.

Charter will provide $100 in cash and shares of a new public parent company equal to 0.5409 shares of Charter for each outstanding Time Warner Cable Inc. share. The transa♑ction value♊s each Time Warner Cable share at about $195.71.

The com𒆙panies on Tuesday valued Time Warner Cable at a total of $78.7 billion.

Shares of Charter Communications Inc. are up more thaꦦn 3 percent🙈 in premarket trading.