Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

Charter readying for TWC bid

Friday, November 22, 2013 - 00:54

Nov. 22 - Charter Communications is nearing a deal with banks so it can bid for Time Warner Cable. A merger could spark a new consolidation wave. Fred Katayama reports.

▲ Hide Transcript

View Transcript

This little fish could be angling for the bigger fish, again. Charter Communications is trying to line up money to buy Time Warner Cable. The Wall Street Journal reports it's getting closer to a multi-billion dollar debt deal with Bank of America, Barclays and Deutsche Bank. It says Charter would need to raise $25 billion in cash to satisfy Time Warner investors. Charter could also raise cash from sovereign wealth funds and rich individuals. A merger between number two Time Warner and number four Charter could set off a new wave of consolidation. That's something Charter's big backer, Liberty Media's John Malone, has been calling for in a bid to stem rising programming costs. Time Warner Cable had spurned an earlier overture by Charter, which has less than half as many video subscribers. Stocks of both Time Warner Cable and Charter rose at the open.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Charter readying for TWC bid

Friday, November 22, 2013 - 00:54