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.
By THE DEADLINE TEAM | Friday July 19, 2013 @ 10:45am PDTTags: Charter Communications, John Malone, Time Warner Cable
For all of Deadline's headlines, follow us @Deadline on Twitter.
This article was printed from http://www.deadline.com/2013/07/charter-goldman-sachs-mulling-time-warner-cable-offer-report/