Charter and Time Warner have agreed to terms of cash-and-stock deal valuing Time Warner Cable at $195 a share, sources.

The acquisition by Charter, which is backed by Mr. Malone’s Liberty Broadband Corp. , would make Charter the second largest U.S. broadband and pay-television companies with 23 million customers vs Comcast with 27 million.

Would the acquisition of Time Warner by Charter mean that those Charter subscribers in Los Angeles would be able to see Dodger games? We would assume so, but details are forthcoming, and the deal is just be announced so we would expect more details over the next few days, weeks and months.

Needs Federal and State approval.