Charter Communications is buying Time Warner Cable in a deal that values the latter, larger company at $78.7 billion. The two firms will merge together under the newly created parent company New Charter, which will become the second biggest cable provider in the US after Comcast. A separate acquisition by Charter of the smaller cable company Bright House Networks for $10.4 billion means that the new company will now have 23.9 million customers in 41 states. The merging of this trio of companies was only made possible after Comcast abandoned its own $45 billion merger with Time Warner Cable after it met with resistance from regulators.
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Charter buys Time Warner Cable to create America's second biggest cable provider
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