Charter Communication to Purchase Time Warner Cable

Photo Courtesy of Forbes.com

Photo Courtesy of Forbes.com

Charter Communications, a company offering cable and internet, has agreed that they will try to buy their rival Time Warner Cable for $56.7 billion and also Bright House Communications for $10.6 billion which will make them the largest company for cable and also broadband, according to New York Times.

But for this to happen, Charter Communication will need to have approvals from state and also federal government, according to LA Times.

“In applying the public interest test, an absence of harm is not sufficient. The commission will look to see how American consumers would benefit the deal were to be approved,” stated Tom Wheeler, the chairman of Federal Communication Television, according to LA Times.

Charter Communications had sent many offers to Time Warner Cable in 2013, but TWC had rejected each of them, according to BBC News.

Charter Communication, TWC, and Bright House Network will give service to 23.9 million customers in 41 states, according to BBC News.

Charter has promised that they will give faster internet to subscribers, have wider availability of WIFI, and also improved TV interface, according to CNN Money.