Charter/Bright House Moving Forward
Charter Communications’ proposed buy of Bright House Networks will move forward despite the demise of Comcast/Time Warner, said Charter and Bright House parent Advance/Newhouse in a news release Monday. “The companies have extended their good faith negotiating period for an…
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additional 30 days under the previously announced agreement for Charter to acquire Bright House Networks for $10.4 billion.” The originally announced deal was part of the spinoffs and subscriber exchanges among Comcast, TWC and Charter under terms of Comcast/TWC, but Charter indicated shortly after Comcast withdrew the proposed deal that the Bright House deal could still happen. “The addition of Bright House brings additional scale and strategic flexibility to Charter over time” said Charter CEO Tom Rutledge.