Charter Communications is reportedly poised to acquire Time Warner Cable in a second bid for the company. The companies could announce the purchase as soon as tomorrow.
Comcast’s recent attempt to purchase the company went down spectacularly down in flames, with both Department of Justice and the FCC lined up to kill the merger of the No. 1 and No. 2 cable operators.
Reportedly offering $55 billion for Time Warner, Charter offered $10 billion more than Comcast’s attempt. However, Charter’s subscribers (4.3 million) are less than half of Time Warner’s (11 million).
This is Charter’s second attempt to take control of TWC. Its first try in 2014 was rejected by the Time Warner Cable board.