Charter, Bright House extend talks over proposed merger

By Maria Armental 

Charter Communications Inc. and Advance/Newhouse have extended the negotiating period for their previously announced merger by another 30 days, keeping alive a deal despite the collapse of a separate cable deal on which it was said to be contingent.

Charter, the fourth largest cable operator in the U.S. by subscribers, has made a $10.4 billion bid for Advance/Newhouse's Bright House Networks LLC. Bright House is the sixth largest cable operator in the U.S., with about two million customers.

The bid was contingent on a separate deal between Comcast Corp. and Time Warner Cable Inc. closing. Comcast ended the deal last month amid regulatory pressure.

The two companies had agreed that if the Comcast-Time Warner deal failed, they would try to renegotiate their deal within 30 days, The Wall Street Journal, reported citing people familiar with the matter. The extension the companies announced Monday is in addition to that initial "good faith" period.

Charter has since begun discussions about a possible merger with Time Warner, the Journal has reported, citing people familiar with the matter.

Charter's shares, which set a high the day the proposed Bright House deal was announced, are up nearly 9% year to date.

Write to Maria Armental at [e-mail]

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