Consolidation talk was everywhere today, and investors believe that there’s something to it. Following reports this AM that Comcast and Charter Communications are weighing individual bids for Time Warner Cable, Bloomberg says that the potential buyers have also discussed the possibility of jointly going after the No. 2 cable operator — and then divvying up its systems. For example, it might make sense for Charter to take Time Warner Cable‘s properties in Los Angeles while Comcast could take the prized system in Manhattan. That could solve a lot of problems for the companies: Comcast might be able to grow without alarming the federal regulators that it would become too big. And Charter, which is much smaller, could scratch its itch to become a major industry power without having to take on an onerous amount of debt. All of this talk provided a jolt to cable stocks on a day when the Dow Jones Industrial Average closed at an all-time high of 16,065. The 0.3% uptick vs yesterday pales next to the changes at Time Warner Cable (+10%), Charter (+6.1%), Cablevision (+5.9%), Comcast (+4.4%) — and even satellite companies Dish Network (+4.2%) and DirecTV (+3.3%).
Will Comcast And Charter Make A Joint Bid For Time Warner Cable?
What's Hot on Deadline
How 'Pirates' & 'Baywatch' Are Casualties Of Summer Franchise Fatigue At The Domestic B.O. — Sunday AM
Cannes: 'The Square' Takes Palme D'Or; Sofia Coppola Best Director; Acting Honors For Joaquin Phoenix & Diane Kruger
With 'Empire' And 'Star,' Lee Daniels Continues To Tell The Untold Stories Of The Marginalized — Deadline Disruptors
Surprises Are Few But Most Winners Were Highly Deserving And A Nice Way To Bid Adieu To The 70th Cannes Film Festival -Hammond
Latest Business News
- Brush Fire Near Getty Center Threatens Homes and Buildings on L.A.’s West Side
- Donald Trump Comes Home, Fires Up Twitter, Rips Media & New Normal Resumes
- Tony Nominee Jenn Colella Came From Away – And Landed On Broadway
- Yahoo News Editor-In-Chief To Exit After Verizon Merger
- The Horse’s Mouth 8: The Importance Of Feeling Important
- Ava DuVernay’s ARRAY Snags L.A. Film Fest Debuting ‘The House On Coco Road’