Charter Communications and Time Warner Cable are reportedly close to sealing a merger deal that would see the smaller cabler pay 195 dollars per share in cash and stock.
The Wall Street Journal valued the agreement at about 55 billion dollars. Charter would pay 100 dollars per share, with the rest being provided through Charter stock. Bright House Networks would also be folded into the Charter-Time Warner combo, reports Deadline.com.
The proposed deal would see Charter, which is backed by John Malone's Liberty Broadband, heading to the top tier of U.S. cable TV and broadband companies. After the merger, the company would have a combined total of 23 million customers, second only to Comcast's 27 million.
An announcement about the deal is expected to come tomorrow.