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Charter extends talks on Bright House takeover

2015-05-18 20:04:00| Telecompaper Headlines

(Telecompaper) Charter Communications and Advance/Newhouse have extended talks on Charter's proposed acquisition of Bright House Networks. The companies jointly announced that they remain committed to completing their previously announced takeover on the same economic and governance terms. Their agreement first announced in late March was conditional on Charter completing a deal to acquire assets from Time Warner Cable and Comcast after the latter two's proposed merger. Since the TWC-Comcast deal was scrapped, Charter and Advance/Newhouse have restarted negotiations on the deal. While they have yet to reach a new agreement, they have extended their good faith negotiating period for an additional 30 days. Charter originally agreed to acquire Bright House Networks, which counts around 2 million TV customers and is the sixth-largest cable operator in the US, for USD 10.4 billion. Recent media reports have suggested that TWC may also be looking at a bid for Bright House.

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