Cable Operator Charter Mulls Possible Bid for Cablevision (Report)
Cable operator Charter Communications, in which John Malone's Liberty Media owns a 27.3 percent stake, continues to be in the deal hunt.
The fourth-largest U.S. cable company is considering making a play for Cablevision Systems, the fifth-largest operator, Bloomberg News reported, citing people familiar with the situation.
It said that Liberty also continues to look at possible ways to structure a Charter deal with Time Warner Cable following a recent meeting between Liberty CEO Greg Maffei and TWC boss Glenn Britt, who is retiring at the end of the year. TWC has signaled no interest in being acquired by or merging with the smaller Charter.
Meanwhile, a deal for Cablevision would also face hurdles as it would need the support from the Dolan family, which controls the company.
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“As a matter of long-standing policy, we do not comment on rumor or speculation in the media," a Cablevision spokeswoman told THR.
On the TWC front, Liberty is looking at ways to offer a deal with enough cash to win over shareholders, Bloomberg cited sources as saying. For example, Liberty is mulling borrowing against its balance sheet or TWC’s assets to raise added cash.
Malone recently said that Charter could become "a horizontal acquisition machine" given that "the whole name of the game in the cable business is scale."
Liberty representatives weren't immediately available for comment.