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US: Comcast, Charter shake hands to revamp cable industry

 |  April 28, 2014

Comcast has reportedly struck a deal with Charter Communications to offload assets as Comcast looks to acquire Time Warner Cable. While Comcast had seemingly beat-out Charter in the bidding war for TWC, Charter will reportedly leave the transaction with its own win, as the deal includes a stake in the new Comcast conglomerate.

According to reports, Charter revealed Monday it has struck a deal that includes subscriber acquisitions, a stake in the new company and some subscriber swaps with Comcast. The transaction would make Charter the second-largest cable company in the nation, behind Comcast.

Charter had initially sought to acquire TWC itself, and later challenged the proposed merger between its rivals, announced last February in a $45 billion deal. The merger remains subject to approval by the Department of Justice as well as the Federal Communications Commission.

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