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US: Charter to buy cable operator Bright House for $10.4 billion

By  |  March 31, 2015

John Malone-backed Charter Communications said it would buy Bright House Networks in a $10.4 billion deal as it expands its cable network after losing out to Comcast Corp in a fight for Time Warner Cable Inc.

The U.S. cable TV industry has been rapidly consolidating in recent years to counter the growing popularity of satellite TV and Web-based entrants such as Netflix Inc.

Comcast’s $45.2 billion offer for Time Warner Cable last year highlighted the changing landscape of the industry. If approved, the deal will cement Comcast’s No. 1 position and reshape the country’s pay TV and broadband markets.

The deal is contingent on the expiration of Time Warner Cable’s “right of first offer” for Bright House, which has an agreement for sharing programming rates with the larger cable operator.

 

Full Content: The New York Times

 

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