New York — Charter Communications Inc. is close to buying Time Warner Cable Inc. for about $55 billion, said two people familiar with the negotiations. The people spoke on condition of anonymity Monday because of the private nature of the deal talks.
One of the people said the deal will be announced early Tuesday morning.
Charter had wanted to buy Time Warner Cable earlier, but Time Warner Cable chose a $45 billion offer from Comcast Corp. instead.
Comcast walked away from the Time Warner Cable deal after regulators pushed back against it, concerned that the combined company would undermine online video competition. It would have served more than half the country’s broadband subscribers; consumer advocates said a merger would limit choices and lead to higher prices.
Time Warner Cable representative Ellen East and Charter spokesman Justin Venech both declined to comment on the talks between their companies.
