Stamford, Conn.-based Charter Communications will take over 1.4 million existing Time Warner Cable customers, including those in the Milwaukee area, from Philadelphia-based Comcast Corp. in a divesture deal announced today.
The Time Warner Cable service in the Milwaukee area, and most of Wisconsin, would be taken over by Charter Communications after Comcast’s pending acquisition of Time Warner is complete. Comcast is in the process of acquiring Time Warner Cable, and is seeking federal government approval for the $45.2 billion deal, announced in February. Comcast today said it plans to divest 3.9 million customers, including 1.4 million to Charter.
The deal announced today would increase Charter’s current residential and commercial video customer base from 4.4 million to approximately 5.7 million, and make Charter the second largest cable operator in the United States.
“Charter’s new customers will benefit from our philosophy of providing highly valued products, featuring enhanced on-demand, interactive video and increased broadband speeds, all in a simplified package designed to provide better value and service,” said Tom Rutledge, president and chief executive officer of Charter Communications. “The transactions announced today will provide Charter with greater scale, growth opportunities and improved geographical rationalization of our cable systems, which in turn will drive value for shareholders and more effective customer service.”
