Charter said to near deal for Time Warner Cable at $195 a share

Charter Communications Inc. is near an agreement to buy Time Warner Cable Inc. for $195 a share in cash and stock, according to people familiar with the matter.

Charter will pay $100 a share in cash and the rest in its own stock, said the people, who asked not to identified because the talks are confidential. Bright House Networks, a smaller cable company, will also be merged into the combined Charter- Time Warner Cable, they said.

A deal could be announced as soon as Tuesday, the people added. Time Warner Cable has a market value of $48.4 billion.

Spokespeople for Charter and Time Warner Cable declined to comment.