Charter To Acquire Bright House Networks - Quick Facts

(RTTNews) - Charter Communications, Inc. (CHTR) and its subsidiary, CCH I, LLC, (together, the New Charter), and Advance/Newhouse Partnership (the parent company of Bright House Networks, LLC) announced a definitive agreement, whereby Charter will acquire Bright House Networks for $10.4 billion.

The business will be conducted through a partnership of which Charter will own 73.7%, and of which Advance/Newhouse will own 26.3%. The consideration to be paid to Advance/Newhouse by New Charter will include common and convertible preferred units in the Partnership, in addition to $2 billion in cash. The partnership units owned by Advance/Newhouse will be exchangeable for common shares of New Charter.

Bright House is the sixth largest cable operator in the U.S. and the second largest in Florida, with technologically advanced systems located in five states including Florida, Alabama, Indiana, Michigan and California and two of the top 20 DMAs. Bright House Networks serves approximately 2.5 million customers who subscribe to one or more of its video, high-speed data, home security and automation and voice services.