“Consolidation of that marketplace would provide a great deal of ingenuity and much more access to resources for the customers and lower prices,” said Dolan, CEO of Cablevision, in speaking at a panel of major cable system executives at the Internet & TV Expo in Chicago on Wednesday.
Cablevision Systems is a major cable operator in the New York City area -- Long Island, New Jersey, and New York City’s outer boroughs; Time Warner Cable is the other big cable company in the region, running a major cable operation in Manhattan.
The biggest U.S. cable operator, Comcast Corp. recently abandoned a $45 billion deal to acquire Time Warner Cable, the second-largest U.S. cable operator, after increased pressure/criticism from Federal regulators.
In the days after Comcast’s decision, Time Warner Cable was linked to other possible cable company acquirers, including Charter Communications.
Responding to Dolan’s remarks, midday stock trading had Cablevision’s shares soaring -- up more than 7% during the day. It closed up 2.2% to $20.80. Time Warner Cable’s stock was down 0.8% to $155.35.