Charter Still in Active Talks to Buy Bright House Networks

Apparently, Charter Communications continues to work on a takeover of Bright House Networks, seeing the deal as a precursor to a bid for Time Warner Cable. The companies are in active discussions to reach a new deal, during an exclusivity period that lasts through most of May. Apparently, the talks may continue even after that exclusivity ends. Charter and Bright House had agreed on a $10.4 billion acquisition, which they announced in March. That was contingent on the closing of Comcast’s purchase of Time Warner Cable. The agreement included a provision that Charter would renegotiate with Bright House for 30 days if the Comcast-Time Warner Cable deal was called off, which it was on April 24. Locking down the purchase of Bright House, the sixth-largest US cable company, would bolster Charter’s ability to finance an eventual Time Warner Cable takeover. Apparently, Charter and Time Warner Cable are discussing the potential structure of their own deal.