Charter Communications is heading towards a possible merger with Time Warner Cable Inc, according to Wall Street Journal. Charter Communications provides cable television, high-speed Internet, and telephone services.

It has been reported that Time Warner Cable's CEO Rob Marcus has been called by Malone, the chairman of Charter's largest shareholder, Liberty Broadband Corp. in order to express Charter's interest in pursuing friendly deal talks.

Comcast Corp said that its merger with Time Warner Cable (TWC) and its deal with smaller competitor Charter Communications have been terminated amid regulatory resistance.

It has been reported that Charter and TWC are already jockeying for advantage by courting Bright House Networks LLC. Charter and TWC had separately held preliminary discussion with Bright House about an acquisition.

A deal to obtain Bright House would reportedly put Charter and TWC in a stronger bargaining position with the other company. But it is unclear that how regulators will view the three-way deal in order to create another cable giant after they resisted the Comcast-TWC merger.

Last year, Comcast has decided to acquire TWC for $45.2 billion in an all-stock friendly merger deal. It was expected that the deal will close in early 2015. Comcast had entered in a deal with Charter to divest 4 million managed subscribers to decrease competitive concerns over its merger with TWC.

Comcast was agreed to divest some more of its assets in order to achieve antitrust authorization for the deal. But regulators delayed the anti-trust reviews amid intense pressure and insurmountable scrutiny, mainly by the Federal Communications Commission or FCC.