US: Charter and Bright House agree to move forward in $10.4 billion merger deal

Despite earlier reports that a deal was dead, Bright House Networks and Charter Communications have confirmed that the two sides remain in ongoing talks about a merger. Charter had agreed to acquire Bright House in a $10.4 billion deal announced earlier this year, though that deal was contingent on the Comcast merger closing.

A good-faith negotiating period that was part of the deal has been extended another thirty days, the companies say. Initially the companies wouldn’t comment, but their willingness to talk suggests a deal may be imminent.

The two companies say they “remain committed to completing their previously announced transaction on the same economic and governance terms.”

“We continue to be excited about the transaction with Charter,” Bright House CEO Steven Miron said in a statement being circulated to the media. “We believe this combination positions the new company to become an industry consolidator and growth platform to develop innovative products in serving customers, growing market share and creating value for shareholders.”

Full content: The New York Times

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