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California Advances Charter's TWC Bid and FCC May Be Next

  • Judge recommends approval to California utilities commission
  • Vote by full California Utilities Commision may come May 12
Updated on

Charter Communications Inc.’s proposed merger with Time Warner Cable Inc. cleared an important hurdle Tuesday as an administrative law judge recommended California regulators approve the deal, which appears to be nearing federal clearance too.

Shares of both companies rose in morning trading Wednesday. The difference between Charter’s offering price for Time Warner stock and its current trading range also narrowed further, indicating growing investor confidence in the deal.