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Charter to buy Time Warner Cable as US online war heats up

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Charter to buy Time Warner Cable as US online war heats up

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America’s number two cable operator, Charter Communications, is to buy the number three, Time Warner Cable, in a 72 billion euro deal.

Charter said the deal would allow it to better compete with America’s number one, Comcast Corporation.

Time Warner does have a debt pile, 20.7 billion euros of long-term liabilities, and its shares rose over 11% on news of the buy-out.

American cable and internet companies are going through a shakeout at present, with operators looking to cut costs and capture pricing advantages, with consolidation weeding out the weaker players.