Charter Communications Acquiring Bright House at $10.4 Billion

News - (on April 01, 2015 06:08 AM)

Charter Communications Acquiring Bright House at $10.4 Billion


 

In the start of this month there are already some rumors saying that Charter is going to acquire Bright House, and this week it comes true when both companies officially announce that the deal is final and company will pay $10.5 billion to Bright House.

 

Charter communication is the 4th largest cable operator of U.S. on the other hand Bright House is the 6th largest cable operator of U.S. this merger will enable Charter to step in to new doors of business and enable the company to have a strong hold on more customers.

 

Charter Communication holds about 4.35 million of video customers while BrightHouse have about 2.01 million of video customers in United States.

 

With this new acquisition Charter is now the 2nd largest company in U.S. providing its customers the solution of TV cable.

 

But another side view of this deal is that; the deal can only be approved by the regulators if the previous deal between Comcast and Time Warner Cable is approved by them.

 

Charter Communication CEO Tom Rutledge said in a statement that;

 

‘An outstanding cable system has been built by Bright House in attractive Markets, which is completely or contiguous with Charter footprints’.

 

‘This acquisition will make the Charter as the 2nd largest company (cable operator) of U.S. I look forward to work with Bright House team, which is known to deliver great products and services for years to grow our market share.’

 


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