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UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

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Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

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Tiger Woods takes a swing at Fort Worth's Dan Jenkins - in print anyway

Rarely does Golf Digest make the news. Leave it to Dan Jenkins to change that.

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Great Women of Texas honored

The Fort Worth Business Press held the Great Women of Texas event Wednesday night at the Omni Fort Worth Hotel. Stacie McDavid of McDavid Investments was honored as the

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Grocers, retailers flocking to Southlake

With its economic development engine revving at full throttle, Southlake is about to welcome several major retail and commercial projects that underscore its image

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Charter makes formal offer for Time Warner Cable

 

Melanie Hicken


NEW YORK (CNNMoney) -- After months of overtures, Time Warner Cable has formally received a merger offer from one of its main rivals.

Charter Communications on Monday said it sent a letter formalizing a previous discussion to offer around $130 a share, including approximately $83 per share in cash, to merge with Time Warner Cable.

The bid for Time Warner Cable, the country's second largest cable company with more than 11 million subscribers, was first reported by Bloomberg.

Time Warner Cable could not be immediately reached for comment.

Charter, the fourth largest cable provider with just over 4 million subscribers, said it has made repeated overtures for more than six months, but that "Time Warner Cable chose not to engage or find out more."

That changed in December, when executives from both firms met to discuss Charter's plan. But after the meeting, Time Warner Cable returned with "an unrealistic price expectation," Charter said Monday.

Sources said in November that Time Warner Cable had reached out to Comcast for a possible deal.

Charter now says it is going to the company's shareholders directly with its offer.

"We believe that time is of the essence to prepare our companies to meet the challenges of the industry, which is why we have decided to announce the status of our discussions to date with both sets of shareholders," Charter President and Chief Executive Officer Thomas Rutledge wrote in the letter.

Shares of both Charter and Time Warner Cable shares rose slightly in after-hours trading after news of the proposed deal broke. Charter shares are up more than 70% from a year ago, while Time Warner Cable shares are up by more than 30%.

 

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