Charter Acquires Rival Bright House For $10.4B

According to Charter Communications, business will be conducted through a new partnership of which Charter will own 73.7%, with Bright House owner Advance/Newhouse owning the other 26.3%. The consideration to be paid will include common and convertible preferred units in addition to $2 billion in cash. […] It’s unclear whether this tie-up would cause a problem for Comcast: If the Time Warner Cable deal goes through, then the cable giant has agreed to unload 3.9 million subs to Charter and a new co-owned company. Comcast wants to assure federal regulators that, after a merger, it would serve less than 30% of all pay TV subscribers — which used to be a ceiling for one company. It’s not clear whether the Bright House customers would count in that tally. – Patrick Hipes , Deadline Hollywood