Charter Communications, a broadband communications company, completed the merger with Time Warner Cable, a provider of video, high-speed data and voice services in the US, in a $78.7bn deal. In addition, Charter acquired Bright House Networks, an American telecom company for $10.4bn. For each Time Warner share, Charter offered $100.00 in cash and shares of a new public parent company equivalent to 0.5409 shares of Charter. As part of the deal, Liberty Broadband, a holding company, purchased $4.3bn of newly issued shares of the combined entity at a price equivalent to $176.95 per Charter share. Following the closing, Time Warner Cable shareholders were expected to hold from 40% 45% of the combined company, and Bright House Networks' parent Advance/Newhouse Partnership from 13% to 14%. "With our larger reach, we will be able to accelerate the deployment of faster Internet speeds, state-of-the-art video experiences, and fully-featured voice products, at highly competitive prices. In addition, we will drive greater competition through further deployment of new competitive facilities-based WiFi networks in public places, and the expansion of the facilities footprint of optical networks to serve the large, small and medium-sized business services marketplace. New Charter will capitalize on technology to create and maintain a more effective and efficient service model. Put simply, the scale of New Charter, along with the combined talents we can bring to bear, position us to deliver a communications future that will unleash the full power of the two-way, interactive cable network," Tom Rutledge, Charter Communications President and CEO.