Charter-Time Warner cable deal reflects shifting TV market

New York

TRYING to succeed where Comcast failed, Charter Communications has struck a deal to buy Time Warner Cable, an acquisition that would create a powerhouse in the consolidating American cable and broadband industry.

Charter announced on Tuesday a US$56 billion deal for its larger rival and an approximately US$10 billion takeover of a smaller competitor, Bright House Networks. With those deals, Charter will become a significantly stronger rival to Comcast, the giant of the cable industry, which had until last month sought to buy Time Warner Cable itself until the plan met resistance from federal anti-trust regulators.