Charter Communications, Inc. (NASDAQ:CHTR) has suddenly emerged into the buy-now books of investors, with its latest revelation. The US based cable television service provider CHTR, played pivotal roles in organizing content and popularizing OnDemand programming of videos. Lately, CHTR has voiced its intent to takeover Bright House Networks at a deal estimating roughly to $10 billion.
Technical analyst have identified strong buy signals in CHTR.
2.5 Million Bright House’s Subscribers May Soon Be Charter’s
The cable TV operator, CHTR has revealed its intent to acquire Bright House Networks, sources who have familiar knowhow on this matter revealed. Bright House is a haven to 2.5 million cable TV subscriptions; it has its biggest market and business opportunities in the state of Florida. Apart from this state, Bright House is quite popular in terms of cable TV subscriptions in Orlando and Tampa.
This hints at the usefulness of this deal for CHTR. The company has a benefit to draw from this takeover. 2.5 million Subscribers would certainly be value adds to the net number of consumers or subscribers that CHTR harbours. This impactful deal is contingent on the acquisition of the esteemed Time Warner Cable Inc (NYSE:TWC) by Comcast Corporation (NASDAQ:CMCSA). Sources say that the US regulators have eyed the acquisition and hence consider this deal contingent on Comcast Corp.
No Representatives Were Reachable
Despite rumours mongering all around and the sources aware of the happening revealing about the purported intent in CHTR’s authorities to takeover Bright House, no top notch officials from either of the two prestigious companies could be reached for a detailed conversation. There was no source who would comment officially on this advancement. Apparently, it seems that representatives are perhaps going to take some time to comment on this.
Charter Communications, Inc. (NASDAQ:CHTR) has unveiled its plans to stage itself in the cable industry. It has plans to consolidate itself and perhaps hence the move to acquire Bright House. Even last year, before Comcast had finalized the TWC deal, Charter had placed bids for acquiring Time Warner Cable.