Time Warner Sold In $55 Billion Takeover Deal

Charter Communications has agreed to buy Time Warner Cable media giant in a cash and shares deal worth $78.7 billion.
The cash element is worth $55 billion, with the rest covered by Charter shares.
The new company, which will also include Bright House networks, will be a broadband services and technology company serving 23.9 million customers in 41 states.
It aims to compete with US cable market leader Comcast.
The deal values Time Warner Cable shares at $195.71.