Report: Charter Brings in Comcast to Help in Time Warner Buyout

Charter CommunicationsComcast is near a deal to buy New York City, North Carolina and New England cable assets from Charter Communications Inc. if shareholders approve Charter’s takeover bid for Time Warner Cable Inc., people with knowledge of the matter said. The asset sale would be contingent upon Charter’s acquisition of Time Warner Cable, which could still fall through, said the people, who asked not to be named because the negotiations are private. Charter has offered $132.50 per share for Time Warner Cable, valuing the cable company at $37.4 billion excluding debt. Time Warner Cable has rejected the proposal, calling it “grossly inadequate.” An agreement with Comcast would give Charter more funds as well as remove a potential competitor in Charter’s attempt to acquire Time Warner Cable. Read the full story at Bloomberg.