STAMFORD, Conn. and SYRACUSE, N.Y., May 18, 2015 /PRNewswire/ — Charter Communications, Inc. (NASDAQ: CHTR) (together with its subsidiaries “Charter”) and Advance/Newhouse (the parent company of Bright House Networks, LLC) jointly announced that the companies remain committed to completing their previously announced transaction on the same economic and governance terms. The companies have extended their good faith negotiating period for an additional 30 days under the previously announced agreement for Charter to acquire Bright House Networks (“Bright House”) for $10.4 billion. Bright House is the sixth largest cable operator in the United States, and serves approximately 2 million video customers in central Florida including Orlando and Tampa Bay, as well as Alabama, Indiana, Michigan, and California.
Tom Rutledge, President and CEO of Charter Communications said, “Bright House and its employees have created a high quality service operation, and the addition of Bright House brings additional scale and strategic flexibility to Charter over time. We look forward to completing the transaction as planned, and our teams are working together to make that happen.”
Steven Miron, Chief Executive Officer of Bright House Networks said, “We continue to be excited about the transaction with Charter. We believe this combination positions the new company to become an industry consolidator and growth platform to develop innovative products in serving customers, growing market share and creating value for shareholders.”