May 18, 2016 / 1:26 PM / 3 years ago

BRIEF-Charter Communications, Time Warner Cable and Bright House Networks complete transactions

May 18 (Reuters) - Charter Communications Inc

* Charter Communications, Time Warner Cable and Bright House Networks complete transactions

* Charter names Tom Rutledge chairman of board of directors and appoints board members

* Provided election option for TWC stockholders to get $115.00 of cash, Charter shares equivalent to 0.4562 shares of legacy charter for a share of TWC

* Charter and Advance/Newhouse partnership had completed their previously announced transaction in which Charter acquired Bright House Networks

* Says Liberty Broadband purchased $4.3 billion of newly issued shares of Charter at $195.70 per Charter share

* Liberty Broadband also purchased $700 million of newly issued shares of common stock of Charter at a price of $191.33 per share

* Says Charter’s board of directors will consist of 13 directors

* Remaining 12 directors to include 7 independent directors, 2 directors by Advance/Newhouse, 3 directors designated by Liberty Broadband

* Advance/Newhouse has designated Steve Miron and Michael Newhouse to serve on Charter’s board

* Continuing as members of board are Lance Conn, Craig Jacobson, Jay Markley and David Merritt

* Says Liberty Broadband has designated John Malone, Greg Maffei and Balan Nair to serve on Charter’s board

* Board has also appointed Mauricio Ramos, chief executive officer of Millicom, to serve on board of directors

* Remaining board position to be filled by appointment by directors other than Rutledge, those serving by designation of Advance/Newhouse, Liberty

* Bright House Networks, Time Warner Cable customers won’t see many changes right away; in coming months, to begin to hear more about Spectrum brand Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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