Time Warner Cable Shareholders Approve Deal With Charter

(RTTNews) - Time Warner Cable Inc. (TWC) said Monday that its shareholders have approved its merger with Charter Communications, Inc. (CHTR), with more than 99 percent of votes cast in favor of the deal.

Charter said earlier Monday that its shareholders also approved the deal.

In May, Charter agreed to buy Time Warner Cable in a cash-and-stock deal valued at about $78.7 billion.

In May, Charter agreed to buy Time Warner Cable in a cash-and-stock deal valued at about $78.7 billion, including debt. The deal came a month after the largest U.S. cable operator Comcast Corp. (CMCSK, CMCSA) abandoned its $45 billion merger with Time Warner Cable amid regulatory resistance.