EXCLUSIVE-Charter weighs bid for Time Warner Cable by year-end -sources
NEW YORK, Nov 1 (Reuters) - Charter Communications Inc is weighing a bid for Time Warner Cable Inc before the end of the year, hoping to persuade the larger cable operator to sell after rejecting an earlier overture, people familiar with the matter said.
John Malone's Liberty Media Corp, which owns about a quarter of Charter, approached Time Warner Cable earlier this year about merging Charter and Time Warner Cable. But sources said Time Warner Cable's management was cool to the idea of a tie-up.
Time Warner Cable has a market value of more than $34 billion, compared with Charter's market value of about $13 billion.
Charter and Time Warner Cable declined to comment, while Liberty Media did not immediately respond to requests for comment. The sources asked not to be identified because the matter is confidential.
(Reporting by Soyoung Kim, Nadia Damouni, Liana Baker; additional reporting by Ron Grover and Nicola Leske; Editing by Bob Burgdorfer)