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
Oscars: Saudi Arabia Enters 'Barakah Meets Barakah' In Foreign Language Race; Kingdom's Second Submission Ever
Ryan Lochte Teammate James Feigen Apologizes, Details Rio Gas Station Gaffe & Brazilian Authorities' Big Fine Demands
Latest Business News
- IM Global China Launches New Venture, Go Global
- Fox Hit With ‘Empire’ Class Action Suit Over Filming At Juvenile Detention Center
- Jennifer Holliday Is The Latest Dreamgirl To Sign On For ‘Color Purple’ Stint On Broadway
- Vice’s Shane Smith To Big Media: “Open Sh*t Up” Or Alienate A Generation; Predicts M&A Frenzy; Talks Disney…
- Nate Parker Won’t Face Public Press Grilling As ‘Birth Of A Nation’ Screens At Toronto
- Viacom’s Longtime PR Chief Carl Folta Exits