Bloomberg reports Cox and Charter exploring possibility of merger
If you've been following the news from the cable world lately, you know that Liberty Media's John Malone has been trying to get Time Warner Cable to let Charter Communications (which Liberty owns 27% of) buy it.
TWC wants no part of such a deal, and has said so., but it looks like the folks at Cox Communications might be more open to the idea. At least if what Bloomberg reports this afternoon is accurate.
The companies are roughly the same size, leading at least one industry analyst to cheer the two parties on. “A Cox deal, if available, makes a ton of sense for Charter,” said Moffett Research analyst Craig Moffett in a research note earlier today. “Nosebleed leverage wouldn’t be necessary; a merger of equals would leave balance sheet room for subsequent deals, while still giving Charter the benefit of a doubling of scale.”
Stay tuned ...