Failure to launch: Bright House deal iffy

Fresh off its unsuccessful attempt to acquire Time Warner Cable, Charter Communications Inc. is potentially making a bid for Bright House Networks, the second-largest cable operator in Florida.

A deal, according to Bloomberg news and other media outlets, could be worth $12 billion to the Newhouse family, the owners of Bright House, which has a large presence on the Gulf Coast. It would also significantly alter the cable television landscape even more for cable subscribers throughout parts of west Florida, especially after last month's regional sale of Verizon FiOS to Frontier Communications Corp.

But questions linger surrounding the national cable merger trend overall, especially with concerns from some consumer groups that cable companies are becoming too large. For one, a federal court challenge has temporarily stopped the attempt by cable giant Comcast Corp. to buy Time Warner Cable for $45 billion -- a deal that was announced more than a year ago. The Federal Communications Commission paused its 180-day review of that deal for the third time March 13, leading some experts to wonder if the merger will actually ever complete.

Bright House, the sixth-largest cable operator in the country, also comes off more like a consolation prize for Charter, if a deal comes together. The Connecticut-based cable provider is said to be offering Bright House $4,800 per subscriber -- virtually the same amount Charter offered Time Warner Cable.