Charter working toward a bid for Time Warner Cable: DJ, citing sources

Regional cable operator Charter Communications is moving to make a bid for Time Warner Cable, Dow Jones reported on Friday, citing sources.

The report comes in the wake of Comcast stepping away from a $45 billion acquisition of Time Warner Cable amid regulatory backlash. Charter could make a bid to Time Warner Cable "soon," Dow Jones said.

Time Warner Cable
Scott Mlyn | CNBC

Time Warner Cable shares were trading 5 percent higher on Friday afternoon.

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Charter's $10.4 billion deal to buy Brighthouse Networks—announced last month—was contingent on Comcast completing the Time Warner Cable acquisition.

Charter and Time Warner Cable did not immediately respond to requests for comment.

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