Report: Charter and Comcast are reportedly partnering on Time Warner Cable buyout attempt
Charter Communications is currently working on a plan to buyout Time Warner Cable. If the deal goes through, Comcast may buy Time Warner’s assets in NYC, New England, and North Carolina from Charter, according to sources with Bloomberg. Comcast and Charter supposedly have a “framework agreement.”
Charter Communications offered around $61.3 billion including debt ($132.50 per share) for Time Warner Cable. Time Warner Cable rejected the offer and said that their assets are worth at least $160 per share.
Comcast is not going to join Charter in an effort to buy Time Warner Cable. It would be easier for Comcast to gain the assets by making a side deal and would make it easier for Time Warner Cable to finance the acquisition. Charter is going to borrow around $20 billion for the deal.