(MENAFN) Charter Communications will take over Florida carrier Bright House Networks for USD10.4 billion a deal that will establish Charter as the second-largest US cable operator, The Peninsula Qatar reported.
Charter, which provides about six million customers with cable, broadband and telephone services in 28 US states, said the takeover will bring it an additional 2 million customers in Florida and four other states.
Under the deal, Charter will form a partnership with Bright House parent Advance/Newhouse Partnership which Charter will control with a total of a 73.7 percent of the stake.
"Bright House has built outstanding cable systems in attractive markets that are either complete, or contiguous with the New Charter footprint," , Charter president and chief executive said.
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