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A cable truck returns to a Time Warner Cable office in San Diego, Calif. on Dec. 11, 2013. (Photo by Mike Blake/Reuters)

Charter agrees to buy Time Warner Cable

Charter Communications confirmed Tuesday it would purchase Time Warner Cable for $55 billion in a deal that would merge the second and third biggest U.S. cable companies and create a larger rival to Comcast Corp.The deal values each Time Warner Cable share at about $195.71 based on Charter's closing price on May 20, the companies said in a...

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