Charter Nearing Huge Deal to Acquire Time Warner Cable

Charter Communications, in which John Malone 's Liberty Media owns a big stake, is nearing a deal to acquire Time Warner Cable. Bloomberg News reported Monday the price could be as high as $55.1 billion in cash and stock. Comcast recently abandoned plans to buy Time Warner Cable amid regulators' opposition. The combined cable company would have 23 million total subscribers, second in the cable industry to Comcast’s roughly 27 million customer relations as of the end of the first quarter. Bloomberg said the deal could be announced as early as Tuesday.