The wave of consolidation reshaping the media industry continued Tuesday when Charter Communications announced a $10.4 billion deal for Bright House Networks, now the sixth-largest cable operator in the U.S.

The deal ultimately would create the second-largest cable operator in the country behind Comcast, controlling about 10 million video subscribers. It is part of a long-held strategy by Charter, backed by John Malone’s Liberty Media, to build a stronger national player that can fend off new and old rivals, keep pace with vast technical changes and provide more heft in negotiations with television groups over escalating programming costs.

“Bright House Networks provides Charter with important operating, financial and tax benefits, as well as strategic flexibility,” said Thomas Rutledge, Charter’s chief executive. “Bright House has built outstanding cable systems in attractive markets that are either complete or contiguous with the New Charter footprint. This acquisition enhances our scale and solidifies New Charter as the second-largest cable operator in the U.S.”

Charter’s bid for Bright House is the latest multibillion-dollar deal this year, as big corporations in industries including technology, media and health care carry out expensive mergers and acquisitions. Already this year, more than $843 billion in deals have been announced, according to Thomson Reuters. That is the most in the first quarter of any year since 2007.

Other major deals announced include the more than $80 billion merger of Kraft and Heinz, AbbVie’s acquisition of Pharmacyclics and Valeant’s agreed takeover of Salix Pharmaceuticals. The brisk activity advances a boom in mergers and acquisitions that began last year, as companies dusted off old consolidation plans, the stock markets surged, and debt remained cheap.

By announcing this deal before regulators have decided on the proposed Comcast-Time Warner Cable merger, Charter executives are expressing their vote of confidence that the deal will not be blocked.