St.Louis, Missouri-based Charter Communications announced on Tuesday that it would acquire media company Time Warner Cable Inc. for $78.7 billion. The purchase is comprised of a $195.71 per share offer, $100 of which is in cash. The deal values Time Warner's equity at $56 billion. Media mogul John Malone's Charter swooped in to make the purchase after Comcast Corp. ended its pursuit of Time Warner last month due to regulatory resistance from the Federal Communications Commission on its $67 billion deal. Along with the purchase of TWC, Charter announced that it would resurrect a deal to buy Syracuse, New York-based Bright House Networks from Advance/Newhouse Partnership for $10.4 billion. Once the three companies are combined, the newly formed entity will serve 23.9 million customers across 41 states providing broadband services, cable and other technology products. Concurrent with today's announcement, the FCC put out a statement explaining that the organization would also review this pending merger to determine whether the deal would be in the best interest of the consumer.