Charter Communications has acquired Time Warner Cable for $55.33 billion, the company confirmed Tuesday
The deal, which values Time Warner Cable at $78.7 billion or approx. $195.71 per share, will see the two companies merge in a new company called New Charter. The new company will be one of the largest pay TV and broadband operators in the U.S
Charter will provide $100 in cash and shares of a new public parent company equal to 0.5409 shares of Charter for each outstanding Time Warner Cable Inc. share.