John Malone firm bids to buy Time Warner Cable for €52bn

Charter Communications, controlled by cable industry pioneer John Malone, has offered to buy Time Warner Cable for $56bn (€52bn), seeking to combine the number two and three US cable operators to compete against market leader Comcast.

The partners, who said the deal would mean better access to broadband internet for US consumers, faces questions about likely regulatory obstacles that helped sink Comcast’s earlier bid for Time Warner Cable.

The Federal Communications Commission said it would closely review the deal’s merits. The agency determines whether mergers are in the public interest.