Charter Comms to wed Time Warner Cable in monster merger

Proposes $78.7 BEELLION cash'n'shares deal


Charter Communications has confirmed plans to merge with Time Warner Cable in a cash and shares deal worth $78.7bn.

The earlier rumoured price of $55bn covers the cash element of the sale, while the remaining $23.7bn will be made up of Charter Communications shares.

Charter additionally said it planned to acquire Bright House Networks for $10.4bn.

The three companies' tech and broadband services will apparently serve 23.9 million customers in 41 states across the US.

Charter Communications' chief Tom Rutledge said in a canned statement:

Representatives of each of these companies have invented some of the most revolutionary communications products ever created; innovations like video on demand, VoIP phone service, remote storage DVR, cable TV through an app, downloadable security, and the first backward-compatible, cloud-based user interface.

That spirit of innovation will live on, and it will create real benefits and great long-term value for the customers, shareholders and employees of all three companies.

The planned merger – subject to regulatory approval – is expected to close at the end of this year.

The deal values Time Warner Cable shares at roughly $195.71 each, based on Charter Communication's closing price on 20 May. ®


Other stories you might like

  • Running Windows 10? Microsoft is preparing to fire up the update engines

    Winter Windows Is Coming

    It's coming. Microsoft is preparing to start shoveling the latest version of Windows 10 down the throats of refuseniks still clinging to older incarnations.

    The Windows Update team gave the heads-up through its Twitter orifice last week. Windows 10 2004 was already on its last gasp, have had support terminated in December. 20H2, on the other hand, should be good to go until May this year.

    Continue reading
  • Throw away your Ethernet cables* because MediaTek says Wi-Fi 7 will replace them

    *Don't do this

    MediaTek claims to have given the world's first live demo of Wi-Fi 7, and said that the upcoming wireless technology will be able to challenge wired Ethernet for high-bandwidth applications, once available.

    The fabless Taiwanese chip firm said it is currently showcasing two Wi-Fi 7 demos to key customers and industry collaborators, in order to demonstrate the technology's super-fast speeds and low latency transmission.

    Based on the IEEE 802.11be standard, the draft version of which was published last year, Wi-Fi 7 is expected to provide speeds several times faster than Wi-Fi 6 kit, offering connections of at least 30Gbps and possibly up to 40Gbps.

    Continue reading
  • Windows box won't boot? SystemRescue 9 may help

    An ISO image you can burn or drop onto a USB key

    The latest version of an old friend of the jobbing support bod has delivered a new kernel to help with fixing Microsoft's finest.

    It used to be called the System Rescue CD, but who uses CDs any more? Enter SystemRescue, an ISO image that you can burn, or just drop onto your Ventoy USB key, and which may help you to fix a borked Windows box. Or a borked Linux box, come to that.

    SystemRescue 9 includes Linux kernel 5.15 and a minimal Xfce 4.16 desktop (which isn't loaded by default). There is a modest selection of GUI tools: Firefox, VNC and RDP clients and servers, and various connectivity tools – SSH, FTP, IRC. There's also some security-related stuff such as Yubikey setup, KeePass, token management, and so on. The main course is a bunch of the usual Linux tools for partitioning, formatting, copying, and imaging disks. You can check SMART status, mount LVM volumes, rsync files, and other handy stuff.

    Continue reading

Biting the hand that feeds IT © 1998–2022