Paul Allen's Charter Communications said after the market closed Wednesday it's agreed to buy cable operator Bresnan Communications for $3.1 billion in cash and equity. The deal will add 690,000 customers in Michigan, Minnesota, Nebraska and Wisconsin to Charter's growing cable empire, giving the company a total of 6.2 million subscribers. Upon closing the transaction, Charter will be the nation's fourth-largest cable company. AT&T (T: news, msgs) is a 50-percent owner of Bresnan.
Paul Allen's Charter Communications said after the market closed Wednesday it's agreed to buy cable operator Bresnan Communications for $3.1 billion in cash and equity. The deal will add 690,000 customers in Michigan, Minnesota, Nebraska and Wisconsin to Charter's growing cable empire, giving the company a total of 6.2 million subscribers. Upon closing the transaction, Charter will be the nation's fourth-largest cable company. AT&T (T: news, msgs) is a 50-percent owner of Bresnan. |
