Charter Agrees to Buy Time Warner Cable for $55 Billion

Charter Communications has agreed to buy Time Warner Cable for $55 billion, in a deal that would combine the second- and third-largest U.S. cable providers and create a more formidable rival to Comcast, NBC News reported. The announcement comes a month after Comcast dropped plans to purchase Time Warner Cable for about $45 billion. (Comcast is the parent company of NBCUniversal.) That deal faced challenges from the Federal Communications Commission, which was concerned that the combined companies would exercise to much control over broadband Internet networks.

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