Charter Communications to acquire Bright House Networks
Deal valued at $10.4 billion
ORLANDO, Fla. – Cable television operator Charter Communications Inc. has agreed to acquire Bright House Networks in a $10.4 billion deal.
Charter is the fourth-largest cable operator in the United States, while Bright House is the sixth biggest. Bright House serves about 2 million customers in Central Florida, including Orlando and Tampa Bay, as well as Alabama, Indiana, Michigan and California.
"This acquisition enhances our scale, and solidifies New Charter as the second largest cable operator in the US. I look forward to working with the Bright House team, whom we have known for years, in delivering great products and services to grow our market share," said Tom Rutledge, president and CEO of Charter Communications said.
"We are excited about our transaction with Charter," said Steven Miron, chief executive officer of Bright House Networks said. "At Bright House Networks, we are very proud of what we have achieved -- from the quality of our infrastructure to the level of service our employees provide to customers every day."
The transaction is subject to conditions, including Charter shareholder approval, the expiration of Time Warner Cable's right of first offer for Bright House and the closing of Charter's previously announced deal with Comcast.
The acquisition has left customers and Bright House employees wondering if their service will be affected.
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