Charter Communications confirms $55.3 billion merger bid with Time Warner Cable

A Time Warner Cable vehicle — (Image credit: Spencer Platt/Getty Images)

On Tuesday, Charter Communications confirmed its bid to buy Time Warner Cable for about $55.33 billion in cash and stock. If the deal is approved, Charter would pay about $195 a share, which is about 14 percent more than Time Warner Cable's closing stock price on Friday. If you include debt, the deal is worth about $78.7 billion. The combination of Charter, Time Warner, and Bright House Networks would have 23 million customers in the U.S., second only to Comcast's 27 million. Comcast dropped its bid for Time Warner Cable last month, amid regulatory scrutiny.

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.