Charter Communications has completed the acquisition of Time Warner Cable and Bright House Networks.
Reuters reports that this follows regulatory approvals, granted only days ago, and a year after the transactions were first annouunced.
It adds that Charter has valued the deals at $56.7 billion in the case of Time Warner Cable, excluding debt, and $10.4 billion for Bright House.
The combined entity created by the three companies will be the second largest broadband provider and third largest pay-TV provider in the US, with over 25 million subscribers in 41 states.
Under the terms of the approval, Charter Communications, which is backed by John Malone’s Liberty Media Corp, agreed to refrain telling its content providers that they cannot also sell their shows online, as well as to face restriction from the FCC for up to seven years.
Charter Communications will also be required to extend high-speed broadband internet access to a further two million subscribers within five years, with one million served by a broadband competitor
