Charter Communications is getting ready to sell its Los Angeles system in an auction that could attract $2 billion or more, reports Multichannel News.
The move comes after Charter failed to reach an agreement with Time Warner Cable to swap systems, with Charter seeking to swap its L.A.-area systems for Time Warner Cable’s Wisconsin systems, the story says.
Charter’s systems in the city of Los Angeles and outlying areas reach 551,000 customers. Time Warner Cable, which has about 560,000 subscribers in Wisconsin, balked at the swap, the article says.
A Charter spokeswoman declined to comment. Charter’s Los Angeles systems could attract bids between $2 billion and $2.5 billion, the story says.