\n\tSTAMFORD\/SYRACUSE: Charter Communications and its subsidiary CCH I has reached a deal with Advance\/Newhouse Partnership to acquire Bright House Networks, which is the sixth largest cable operator in the U.S.<\/p>\n
\n\tThe business will be conducted through a partnership of which Charter will own 73.7 percent, and of which Advance\/Newhouse will own 26.3 percent. The $10.4 billion deal includes common and convertible preferred units in the partnership, in addition to $2 billion in cash.<\/p>\n
\n\tTom Rutledge, the president and CEO of Charter Communications, said, "Bright House Networks provides Charter with important operating, financial and tax benefits, as well as strategic flexibility. Bright House has built outstanding cable systems in attractive markets that are either complete, or contiguous with the New Charter footprint. This acquisition enhances our scale, and solidifies New Charter as the second largest cable operator in the U.S.. I look forward to working with the Bright House team, whom we have known for years, in delivering great products and services to grow our market share."<\/p>\n
\n\tSteven Miron, the CEO of Bright House Networks, said, "We are excited about our transaction with Charter. At Bright House Networks, we are very proud of what we have achieved, from the quality of our infrastructure to the level of service our employees provide to customers every day. We share the same vision for the future of our business as Tom and the Charter leadership team, which is to gain market share by offering customers competitive products and excellent service at a tremendous value. Also, our family has known and worked with Tom Rutledge for more than 20 years. Tom managed cable systems that were part of our partnership with Time Warner Cable prior to the formation of Bright House Networks. We think the combination with Charter gives our employees, our customers and Advance\/Newhouse the strongest prospects for the future."<\/p>\n","protected":false},"excerpt":{"rendered":"
STAMFORD\/SYRACUSE: Charter Communications and its subsidiary CCH I has reached a deal with Advance\/Newhouse Partnership to acquire Bright House Networks, which is the sixth largest cable operator in the U.S. The business will be conducted through a partnership of which Charter will own 73.7 percent, and of which Advance\/Newhouse will own 26.3 percent. The $10.4 …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-6232","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\n