Time Warner Cable’s Shareholders Give Go-Ahead to Charter Merger

NEW YORK: Time Warner Cable’s (TWC) stockholders have approved the company’s merger with Charter Communications, with 99 percent of the votes favoring the deal.

Charter’s own stockholders have also approved the transaction. The closing of the deal is still subject to regulatory review and additional customary conditions. The companies entered an agreement providing for the merger back in May.

Charter swooped in with a proposal a month after Comcast dropped its anticipated $45 billion bid for TWC. That merger fell through after U.S. regulators raised concerns that Comcast would gain an unfair advantage in the cable-TV and internet-services market.

Rob Marcus, TWC’s chairman and CEO, said: “Today’s approval is an important milestone in our merger with Charter. The merger will maximize value for our stockholders while creating a company dedicated to delivering great customer experiences.”