In cable, merger mania isn’t just for the biggest players. The next tier down wants to play, too. And so we have the announcement this morning that Charter is planning to buy regional operator Bright House Networks for a cool $10.4 billion.
Bright House is, according to Charter’s press release, the sixth largest cable operator in the U.S., serving about 2 million customers in Florida, Alabama, Indiana, Michigan, and California. And Florida really seems to be Charter’s main target here: the company has no presence in that state at this time, nor will the Comcast/TWC merger land them customers there.
Charter is, of course, intimately involved in the pending Comcast/Time Warner Cable merger. If that trio gets its way with regulators, Charter will directly trade roughly a million and a half customers to/from Comcast, as well as own a significant stake in the new spin-off organization, GreatLand.
Charter has also indicated that should the Comcast/TWC deal for whatever reason not come to fruition, they’re still perfectly ready to go buy TWC themselves.
The planned Charter/Bright House merger will have to follow the same approval steps at the FCC as its bigger siblings, but is likely to face significantly less opposition as the companies involved are much, much smaller.
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