Charter Communications is in talks with Time Warner Cable about a bid that is likely to be well above the $170 per share expected by some analysts, The Wall Street Journal reported, citing people familiar with the matter.
If the deal doesn't get a deal done in a month, or by the end of June, it will become less likely to happen, people familiar with the situation told CNBC.
Charter had bid about $132.50 per share, or $37.3 billion, for Time Warner Cable last year before being beaten by Comcast, whose all-stock deal was initially worth $158.82 per share. (Disclosure: Comcast is the parent of NBCUniversal and CNBC.)
Comcast abandoned its $45 billion offer for Time Warner Cable last month after U.S. regulators raised concerns the deal would have given Comcast an unfair advantage in the cable TV and Internet-based services market.
TWC declined to comment, while Charter had no comment on the report.