Comcast and Time Warner to offload million of customers to Charter

Comcast and Time Warner Cable could offload between 3 million and 5 million customers to Charter Communications, according to a Financial Times report. Executives from all three companies have met in recent days and negotiations remain ongoing, the report says. Selling off a sizable chunk of customers could help better the odds of Comcast’s TWC acquisition getting a thumbs up from federal regulators. The company has already said it’s willing to sell 3 million subscribers to a competing cable provider if the historic buyout is approved. 

Comcast and Time Warner Cable have entered negotiations to sell cable assets worth up $20 billion to Charter Communications in a deal aimed to allay Washington’s concerns about their proposed merger. Comcast and TWC have held talks with Charter about selling between 3 million and 5 million subscribers during recent days, according to people familiar with the matter. Another option being explored would see Comcast and TWC spin off subscriptions into a new company with Charter being given a substantial minority stake. A combination of the two is also under consideration The discussions are at an early stage and no deal is certain, the people cautioned.