Another Buyer Going After Time Warner Cable

Read original story on: Business Insider

Barely a month after Comcast gave in to regulators’ opposition and called off its $45 billion offer to buy US cable giant Time Warner Cable (TWC), Charter, currently the fourth-largest U.S. cable firm, has now emerged as a potential buyer with over $56 billion in cash and stock to acquire TWC, pending regulatory approval. If approved, the merged new company would instantly become the second largest cable company in the country, just after Comcast.

The announcement comes at a time when cable companies are struggling to keep up with the changing habits of TV viewers. The rise of streaming video services like Netflix and Amazon has created a fragmented market, shifting the TV industry from networks to the Internet. Cable companies are eager to consolidate the market, and mergers like this could give cable companies greater leverage to negotiate with the content providers and media owners.