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Charter Communications acquiring Time Warner Cable

WBFO News File Photo

A major deal has been announced in the American cable and broadcasting business. Charter Communications will spend more than $55 billion to acquire Time Warner Cable. The cash-and-stock deal would instantly create one of the largest pay-television and broadband operators in the United States.

As part of the agreement, Charter will also buy Bright House Networks for more than $10 billion.

There is no word early Monday on how the acquisition will impact local employees and/or customers.

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