Britt To Retire From TWC, Marcus Replaces Him

In an unsurprising move, long-time Time Warner Cable chief Glenn Britt will leave his post at the end of the year. Britt has had a successor in place in COO Rob Marcus for some time. Marcus will succeed him Jan. 1, 2014 as Chairman-CEO.

Britt’s tenure will be marked by Time Warner Cable (TWC) expanding through acquisitions such as Insight Communications and Adelphia assets and separating into an independent public company from Time Warner.

Several years ago, in what arguably were game-changing comments, he said cable operators weren’t thrilled with networks offering content free online that they were paying to offer. TWC has also recently looked for ways to lower its content costs, such as launching a regional sports network with the Lakers in Los Angeles.

The 64-year-old Britt has led TWC as CEO since 2001 and had various roles at the business since 1990.

Marcus, who joined Time Warner in 1998, became TWC CFO in 2008 and worked on the separation from Time Warner with Britt.

Britt leaves at a time where there has been speculation TWC might merge with Charter with the encouragement of John Malone. TWC has done well recently on Wall Street with its stock closing at $117.22 on Thursday, not far from its 52-week high. It began 2013 in the $99 range.

Britt has recently publicly cited interest in the legal fate of Aereo, a service that streams broadcast channels live online.
“If it is found to be legal, then I think it has very interesting implications for the whole broadcast and broadcast network ecosystem and for the future of (retransmision consent payments),” Britt said. “Obviously, it would give people a route to receive the signals that are otherwise free through the air without paying retrans fees.”

TWC is in the midst of retrans standoffs with CBS and Journal Communications

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