(Reuters) - Time Warner Inc's shareholders approved the company's $56 billion takeover by Charter Communications Inc (NASDAQ:CHTR), according to preliminary votes at a special shareholder meeting.
Charter said in May that it would buy Time Warner Cable (NYSE:TWC) in a cash-and-stock deal that would make Charter the No. 2 U.S. Internet and cable company after Comcast Corp (NASDAQ:CMCSA).
Comcast dropped its $45 billion bid for Time Warner Cable in April, after U.S. regulators raised concerns that the deal would give Comcast an unfair advantage in the cable TV and Internet-based services market.