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 Warne…