Remember that Time Warner/Comcast merger basically everyone was hoping wouldn’t happen until it was canceled a month ago? Well, it looks like Time Warner Cable is taking its assets to a smaller provider instead.
The Wall Street Journal reports that Charter Communications is very near announcing a deal to purchase Time Warner – despite the former being the smaller company. The announcement could happen as soon as Tuesday.
Charter would also incorporate smaller provider Bright House Networks. Combined, Charter would then have 23 million customers, leaving it behind only Comcast, which remains the largest provider with 27 million customers.
The original Comcast merger, a deal worth $45.2 billion, was met with heavy criticism from the both the public and Washington . Merging the two largest cable providers seemed to close to a monopoly, so it couldn’t get the regulatory approval needed and the deal went sour.
Charter’s smaller size means the merger has a better chance of being approved. We’ll find out soon enough.