Talk of a possible merger between Charter Communications and Time Warner Cable appears to be re-surfacing. John Malone-backed Charter reportedly is working with Goldman Sachs Group to pursue a bid for the nation’s second-largest cable company, people with knowledge of the situation tell Bloomberg. Liberty Media’s Malone fanned the speculation of a possible deal after his company paid $2.6B for a 27.3% stake in Charter last May. “Malone has clearly thrown down the gauntlet,” Paul Sweeney, an analyst at Bloomberg Industries tells the news organization. “He believes the cable industry needs further consolidation.” Charter rose 2.95% to $128.23 at 1:28 PM ET. The shares have climbed 63 percent this year through yesterday. Time Warner Cable, up 17 percent in 2013, rose 2.4 percent to $116.64.
Charter, Goldman Sachs Mulling Time Warner Cable Offer: Report
What's Hot on Deadline
Latest TV News
- Amazon Has No Regrets As ‘Man In The High Castle’ Ad Campaign Pulled From NYC Subway – Update
- ‘Grease Live’ First-Look Promo: Hand Jives & Fast Times At Rydell High
- College Sex Scandal Drama From Jessica Mecklenburg & Rod Lurie Lands At NBC
- The Sony Hack One Year Later: Just Who Are The Guardians Of Peace?
- David Canary Dies: ‘All My Children’ Star Was 77
- ‘Superstore’ Review: America Ferrera NBC Comedy Proves Big Not Better