Charter Communications is in discussions to acquire Bright House Networks, according to Bloomberg based on information from people familiar with the situation.
The stock price of Charter Communications increase more than 5% to $193.45 on Tuesday.The company has approximately $21.34 billion market capitalization.
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Charter, Bright House agreed on a potential all-stock deal
The report indicated that the managements of Charter Communications and Bright House Networks have been engaged in negotiations regarding a potential acquisition for months.
According to two sources, Charter Communications and Bright House Networks already agreed on an outline for the potential all-stock transaction. The sources requested anonymity due to the private nature of the discussion.
Newhouse Advance Publications owns Bright House Networks, which has around 2.5 million c