Charter buys Time Warner Cable to create mega cable and Internet firm

Charter Communications said Tuesday it has agreed to a $55 billion acquisition of Time Warner Cable, creating a new giant in an industry racing to hook up homes to high-speed Internet as cable television declines.

The merger of the fourth- and second-largest cable providers will create a new contender in an industry long lacking competition and will face strong scrutiny from federal regulators who have complained of too much power in the hands of a few firms, particularly Comcast.

By Cecilia Kang

Full Story: http://www.washingtonpost.com/blogs/the-switch/wp/2015/05/26/charter-buys-time-warner-cable-to-create-mega-cable-and-internet-firm/