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Charter Set to Announce Time Warner Cable Acquisition

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filephoto Time Warner Cable

A Time Warner Cable sign is seen in a file photo. (Credit: KTLA)

Charter Communications is near a deal to acquire Time Warner Cable for about $195 a share — furthering Charter’s quest to build one of the nation’s largest cable TV and Internet service companies.

The deal, valued at more than $55 billion, is expected to be announced Tuesday, according to two people close to the companies who did not want to be identified discussing sensitive negotiations.

Bloomberg News first reported that Charter was poised to clinch its bid for Time Warner Cable, its long coveted prize.

The newly merged company also would include Bright House Networks. The three-company company combination would create a juggernaut, with about 17 million pay-TV subscribers in the U.S.

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