Charter Communications and Time Warner Cable both announced on Monday that their shareholders have approved their merger plan.
Charter’s shareholders gave the green light to their company’s US$56.7 billion acquisition of Time Warner Cable (TWC), and to the related $10.4 billion purchase of smaller player Bright House Networks.
Meanwhile, TWC said more than 99% of its stockholders voted in favour of the Charter takeover.
TWC chief executive Rob Marcus described the shareholder vote as "an important milestone in our merger with Charter."
The companies agreed the takeover deal in May, at which time they said they expect it to close by the end of 2015. It, and Charter’s Bright House acquisition, are still subject to regulatory approvals.
The FCC started its review of the deal earlier this month, seeking comment on the companies’ merger application. Interested parties have until 13 October to submit their comments.
The regulator’s shot clock, a system under which it aims to reach a decision on a transaction within 180 days, is running.
The three-way merger would create a strong number two player in the U.S. cable market.
As of the end of June, Charter, TWC and Bright House together had 24 million customer relationships, according to Charter’s second quarter results announcement.
Larger rival Comcast had 27.3 million at the same date.
