Charter Communications is poised to swallow a much bigger rival. For investors, bigger should mean better.

The Wall Street Journal reported last week that Federal Communications Commission Chairman Tom Wheeler was preparing to circulate a draft order to approve the company’s deal to buy Time Warner Cable. The merger would still face further regulatory clearance. But receiving the FCC’s stamp of approval would be an important step in bringing to a close a saga that began in 2013 when Charter first made offers for its competitor.

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