A lot of Wall Streeters believe that something important is in the works. The cable company’s shares are up 5% in afternoon trading amid talk that it’s gearing up for a deal with a larger company — possibly either Time Warner Cable or Cox. Word has it that Charter just froze all budgets including hiring at its new headquarters in Stamford, CT. The company won’t confirm or deny. Yesterday Charter said it hired a Wall Street vet to handle M&A: Charles Fisher is the new SVP for corporate finance. He was a Senior Managing Director with Guggenheim Securities, and led the media investment banking practice at Nomura Securities. Charter also hired former Credit Suisse analyst Stefan Anninger to be VP of investor relations. The timing seems a little odd: Former Cablevision COO Tom Rutledge became CEO just a year ago, and is in the middle of moving top management to Stamford from the company’s long-time headquarters in St. Louis. Still, some savvy investors evidently believe that Charter is ready to take off. Financial news web site Inside Monkey reports that billionaire investors Stephen Mandel of Lone Pine Capital, Howard Marks of Oaktree Capital, and George Soros recently bought or increased their stakes in Charter. The company plans to disclose its Q4 results on February 22.
Is Charter Communications Preparing A Big Deal?
What's Hot on Deadline
Barcelona Terrorist Attack: 13 Confirmed Dead, 100+ Hurt After Van Rams Crowd; Two Suspects Arrested - Update
After Horrific Summer At Box Office, 'It' Will Bring Life To Fall Marketplace With Potential $60M Opening
'The Glass Castle' Review: Woody Harrelson Delivers Career-Best Performance In Touching True Family Story
Latest Business News
- Disney Extends Terms For Four Top Execs Ahead Of Bob Iger’s 2019 Exit
- Is Bob Iger Fed Up With One Of Disney’s Most Vigorous Wall Street Critics?
- Esai Morales Threatens Election Fraud Complaint If “Petty Politics” Continue At SAG-AFTRA
- Lionsgate Taps WB Exec To Streamline Biz After Starz Buy
- Media A-Listers Back eSports Betting Firm As It Dives Into Cryptocurrencies
- HRTS Adds Four To Board Of Directors