Hasta La Creative!

Charter Communications has agreed to buy a majority stake of billionaire Si Newhouse Jr.’s Bright House Networks, for $10.4 billion, expanding its footprint in states including California, Florida and Michigan.

Charter will pay Advance/Newhouse common and convertible preferred stock and $2 billion in cash for the 73.7 percent stake, Stamford, Connecticut-based Charter said in a statement Tuesday.

“Scale has always been important in this industry, especially as a way to get good deals on content, which is the single biggest cost driver for these companies,” said Jan Dawson, an analyst with Jackdaw Research. “Given the scale benefits, it’s natural that they want to combine.”

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