AFTER 18 months of speculation, whispers and dramatic turns, Time Warner Cable (TWC) may have finally found a lasting buyer. On May 26th Charter Communications, a cable and telecoms firm, agreed to buy TWC for around $55 billion in cash and stock. The deal, if it goes ahead, will create the second-largest cable firm in America. The latest deal draws to a close an 18-month-long battle to control TWC. Charter first bid for the firm in January 2014. Then, last February, Comcast pushed in and tried to take over the firm. But last month it was forced to drop its $45 billion offer when it ran into regulatory scrutiny.
Consolidation is the order of the day in technology and communications industries. Greater scale gives cable companies more negotiating leverage to secure programming at cheaper prices. Cable bosses also say they need more clout to...Continue reading
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