Cable company Charter buying Time Warner Cable for $55.3B

[KamaAina]

http://finance.yahoo.com/news/cable-company-charter-buying-time-110725875.html

Charter Communications is buying Time Warner Cable for $55.33 billion, creating another U.S. TV and Internet giant.

And executives say they're confident regulators will allow it.

The deal comes a month after Comcast, the country's largest cable provider and owner of NBCUniversal, walked away from a $45.2 billion bid for Time Warner Cable, the No. 2 cable company, after intense pressure from regulators. Time Warner Cable had chosen the Comcast deal and rejected a $38 billion hostile offer from Charter in early 2014.

There has been a wave in consolidation in the cable industry as providers are starting to lose TV subscribers, costs for TV, sports and movies rise and pressure from online video services such as Netflix and Hulu increases.

Not quite as scary as the Comcast deal, but still...

[Hoyt]

1. I'm stuck with Charter. They've been teetering on bankruptcy for years. Might do them some good.