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Charter planning bid for TWC at under $140 per share: Report

Friday, 13 Dec 2013 | 11:52 AM ET
Patrick Fallon | Bloomberg | Getty Images

Charter Communications, the fourth-largest U.S. cable company, is preparing an offer letter to acquire Time Warner Cable for less than $140 a share, Bloomberg reported Friday.

Charter—backed by John Malone's Liberty Media—is planning to send the letter to as early as next week, the report said, citing a source with knowledge of the matter.

Charter representatives declined to comment on the planned bid. The bid is reportedly an attempt to gain leverage in future programming discussions with TV networks.

Recent reports, citing sources close to the situation, said Comcast has sought advice on possible regulatory hurdles if it decides to pursue a bid for TWC. Comcast owns NBCUniversal, the parent of CNBC.

(Read more: Comcast seeking advice on antitrust and FCC concerns of Time Warner Cable)

Click here to read Bloomberg's full report.

—By CNBC.com.

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