Charter Communications is making another bid for Time Warner Cable. They’ve tried before, but that offer was turned down. Recently, Comcast made a bid for Time Warner, but the FCC put the kibosh on that deal. This time, the offer is for $79 billion.
Along with Time Warner, Charter would also like to pick up the Bright House Networks cable company. If the bid is successful, Charter would become the second-biggest cable company in the U.S., right behind Comcast.
As streaming services put the squeeze on cable operators expect more mergers as companies look for ways to stay profitable in an increasingly competitive market.
The company says the merger will drive investment into their broadband network and allow them to deploy Wi-Fi networks in public places resulting in “ faster broadband speeds, better video products, including more high definition channels, more affordable phone service and more competition, for consumers and businesses. The scale of the new entity will also result in greater product innovation, bringing new and advanced services to consumers and businesses.
The deal will have to first be approved by the FCC.