Charter Still Aims to Buy Bright House

Charter Communications (NASDAQ:CHTR) and Advance/Newhouse, the parent company of Bright House Networks, jointly announced that the companies remain committed to completing their previously announced transaction on the same economic and governance terms. The companies have extended their negotiating period for an additional 30 days under the previously announced agreement for Charter to acquire Bright House Networks for $10.4 billion.

The deal, first announced in late March, had looked imperiled when Comcast's (NASDAQ:CMCSA) proposed acquisition of Time Warner Cable (NYSE:TWC) fell through on April 24.

Bright House serves approximately 2 million video customers in central Florida including Orlando and Tampa Bay, as well as Alabama, Indiana, Michigan, and California.