Charter Communications announced on Tuesday that it would acquire fellow cable operator Bright House Networks in a deal valued at $10.4 billion. The deal is contingent on the closing of Charter’s closing of the purchase of cable systems from Comcast–which is merging with Time Warner cable. That deal was announced last February, with Comcast acquiring Time Warner for $67 billion. Bright House–which is the sixth largest cable operator in the United States–will add two million video subscribers as a result of the deal. The acquisition has all the hallmarks of cable magnate John Malone’s affinity for complicated deals and amassing cable properties.
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