Bright House is the sixth-largest cable operator in the U.S. and serves approximately 2 million video customers in central Florida, as well as Alabama, Indiana, Michigan and California.
Charter, currently the country’s fourth-largest cable operator, said it would become the second-largest cable operator after the deal. Shares of Charter jumped 6.9% to $196 in premarket trading.“Bright House Networks provides Charter with important operating, financial and tax benefits, as well as strategic flexibility,” Charter Chief Executive Tom Rutledge said in a news release.
Connecticut-based Charter has struggled as consumers have turned away from more-traditional forms of pay television toward Internet-based entertainment services such as Netflix and Amazon Prime. It had earlier sought to purchase Time Warner Cable, which had a long-standing arrangement to handle programming and technology acquisitions for Bright House.
Read More Now (Paywall)
No comments:
Post a Comment