Charter Communications Inc. is set in making a $55 billion deal with Time Warner Cable Inc., the second-largest cable operator in the United States. Cable mogul John Malone has been eyeing the company for two years since it is seen as a trophy by those looking to lead U.S. cable and broadband television, reported Nasdaq.

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Cable giant Comcast also struck a deal with TWC last month, only to find struggle with federal antitrust regulators.

The $55 billion deal will be announced by Charter on Tuesday, along with a $10 billion deal with Bright House Networks, a smaller competitor, insiders said Monday.

With the two deals at hand, Charter will undoubtedly become an unstoppable Comcast rival to date.

Comcast's current customer base is 27 million, but if Charter buys both TWC and Bright House, Charter's customer base will quadruple to about 24 million.

Scrutiny from the Federal Communications Commission may be unavoidable, but according to some analysts and industry watchdogs, it is unlikely that Charter will face the same sort of disapproval as Comcast experienced the previous month.

Federal authorities blocked the Comcast-Time Warner Cable deal based on the grounds that they would overpower U.S. broadband and online video markets, according to The Wall Street Journal.

"It does not look to be as nearly as big an antitrust concern as the Comcast deal was," according to Gene Kimmelman, chief executive of Public Knowledge, a consumer-advocacy group, when stating his opinion on the Charter-TWC deal. "In this instance, you're combining the No. 2 company with a smaller player that can be a bit of a counterweight to Comcast."

The outbreak in deals in the cable television industry comes as Americans are shifting from television to Internet for videos. As a result, companies are merging to increase audiences and gain more power over content providers, according to The Seattle Times.

Tagscharter buys time warner cable, charter, Time Warner Cable, TWC, Comcast, Bright House Networks, John Malone