TWC, Charter Refute Merger Rumors

Two major cable company executives have downplayed the possibility of a merger-buyout.

While not asked directly about reports of a possible acquisition of Time Warner Cable, the second-largest U.S. cable operator, Tom Rutledge, chief executive officer of Charter Communications, at the UBS Global Media and Communications Conference, said: "Charter doesn't need to do any deals to make itself a highly valuable business ... There is an opportunity to grow Charter for years to come [without deals]."

Recent reports suggest that Charter (the fourth-largest U.S. cable operator), as well as Comcast Corp. (the largest U.S. cable operator, and Cox Communications (the fifth-largest U.S. cable operator) were considering possible bids for Time Warner Cable.

Earlier in the morning, Rob Marcus, president/chief operating officer and incoming chief executive officer of Time Warner Cable, when asked about a possible buyout, said: "Whether or not Time Warner Cable will participate in M&A [mergers and acquisitions] as a buyer or seller is 100% driven by what's in the best interest of shareholders."

Longtime powerhouse cable executive, John Malone, chairman of Liberty Media, a company that owns a 27% stake in Charter, has recently pushed for cable industry consolidation to make the business more competitive with new digital/media businesses.
Tags: cable tv, m&a, tv
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