MADISON (WKOW) -- It looks like most cable customers in Wisconsin will be served by Charter Communications under the terms of a deal announced by Charter and Comcast on Monday.
Comcast is buying Time Warner Cable for $45.2 billion in a deal expected to close by the end of the year.
Charter spokesman Alex Dudley says, Charter will then buy 1.4 million Time Warner subscribers from Comcast for an estimated $7.3 billion, as well as one-third of a spin-off company Comcast is creating to service 2.5 million Comcast customers. That deal is worth an estimated $2.1 billion.
Selling the subscriptions to Charter allows Comcast to remain under 30% of the residential cable and satellite TV market, which was seen as a key factor in pleasing federal regulators.
Comcast spokesman John Demming says the changes will primarily affect customers in the Green Bay and Milwaukee markets.
Reuters reports Charter and Comcast were competing to purchase Time Warner Cable.
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